Coats completes acquisition of OrthoLite
30/10/2025
The transaction supports Coats’ strategy to expand its footwear division and enter the premium insole segment. Both companies have similar customer bases and global operations, as well as shared priorities in innovation and sustainability.
Coats first announced its intention to acquire OrthoLite and its sustainable materials brand, Cirql, on July 16, 2025, for an initial enterprise value of $770 million (€720 million). The acquisition follows a series of earlier footwear-related investments aimed at strengthening Coats’ position in the global apparel and footwear supply chain.
Group chief executive officer David Paja said the addition of OrthoLite would enhance Coats’ ability to deliver more integrated solutions. “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,” he commented.
OrthoLite founder and chief executive officer Glenn Barrett said the agreement represented a positive step for customers and employees. “This move will bring more value and opportunity for our customers and our people, while maintaining the collaboration we’ve built over the years. After 28 years leading the way in premium insoles, I look forward to this next era of growth with Coats,” he said.
Following completion, Coats will reorganise from three divisions - Apparel, Footwear, and Performance Materials - to two divisions focused on Apparel and Footwear. Existing Performance Materials businesses will be integrated into these new structures.
The footwear division will be led by footwear CEO and group chief operating officer Pasquale Abruzzese, while the apparel division will be led by apparel CEO and group chief commercial officer Adrian Elliott. Mr Barrett will continue to lead the OrthoLite business.
Coats stated that external financial reporting will move to the new divisional structure for the year ending December 2026.
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