Coats Group completes acquisition of OrthoLite, restructures divisions

Coats Group has announced the completion of its acquisition of footwear materials provider OrthoLite. The UK-based company said the takeover reflected a major milestone in its long-term growth plans, strengthening its existing footwear division through the expansion.

With the acquisition, which was valued at 770 million dollars and included OrthoLite’s sustainable materials label Cirql, Coats has entered the premium insole segment, complementing its existing global footprint.

As a result, and to reflect its broadened scale, the group said it will shift from a three-division structure – previously consisting of Apparel, Footwear and Performance Materials – into a two-division format, with a focus on Apparel and Footwear. Its Performance Materials business will merge into the two new divisions.

Footwear will be led by Pasquale Abruzzese, while Adrian Elliot will lead Apparel. The duo will both assume the positions of CEO and group chief operating officer for their respective divisions. Glenn Barrett, meanwhile, will continue as CEO of OrthoLite, the business he founded in 1997. The transition is expected to complete by the end of December 2026.