Coats Completes Acquisition of OrthoLite, Strengthening Footwear Business

Acquisition aligns with Coats’ Long-Term Growth Strategy in Apparel and Footwear

LONDON--(BUSINESS WIRE)--Coats Group plc, a world-leading Tier 2 supplier of critical components to the apparel and footwear industries, announced today that it has completed its acquisition of OrthoLite, a global market leader in footwear materials and the number one brand in premium insoles.

The acquisition marks a major milestone in the Company’s long-term growth plans and strengthens its existing footwear division through expansion into the attractive, high-growth premium insole segment. Both companies already have a similar customer base, a complementary global footprint and a commitment to industry-leading innovation and sustainability practices.

“OrthoLite is one of the world’s most innovative manufacturers in footwear materials. With our combined capabilities, we’ll now be able to offer our customers more future-focused solutions for more of the shoe – without compromising on the trusted quality both companies stand for,” said David Paja, Group Chief Executive Officer. “We’re delighted to officially welcome Glenn and the OrthoLite team to the Coats family.”

Coats first announced its intention to purchase OrthoLite, and its sustainable materials brand, Cirql, on July 16, 2025, for an initial enterprise value of $770 million. Following previous footwear acquisitions, this is the latest step in the Company’s ambition to shape the future of the global apparel and footwear supply chain through innovation, sustainability, and digital technologies that improve quality, efficiency and performance.

“I’m confident this move will bring even more value and opportunity for our customers and our people, while still delivering the great partnership and collaboration we’ve taken pride in over the years,” said Glenn Barrett, Founder and CEO of OrthoLite. “After 28 years leading the way in premium insoles, I look forward to this next era of growth with Coats.”

To better reflect its increased scale and expanded footwear capabilities, Coats will also move from a three-division organisational structure, previously Apparel, Footwear and Performance Materials, toward a simplified two‑division structure focused on Apparel and Footwear. Existing Performance Materials businesses will be folded into the two new divisions.

The divisions will be led by Pasquale Abruzzese, Footwear CEO and Group Chief Operating Officer, and Adrian Elliott, Apparel CEO and Group Chief Commercial Officer. Glenn Barrett will continue to lead the OrthoLite business. External reporting will transition to this structure for the financial year ending December 2026.

About Coats Group plc

Coats is a world-leading Tier 2 manufacturer and trusted partner for the apparel and footwear industries. We deliver essential materials, components, and software solutions that help our customers grow, compete and win.

With over 250 years of industry expertise, we’re shaping the future of the apparel and footwear supply chain through insight-led innovation, impactful sustainability practices, and digital technologies that unlock better product quality, efficiency and performance.

Headquartered in the UK, Coats is a FTSE 250 company and a constituent of the FTSE4Good Index. In 2024, we generated $1.5 billion in revenue and employed 16,000 people worldwide—all united by a spirit of innovation, quality and service. Learn more at www.coats.com or follow us on LinkedIn.