In order to accelerate its expansion strategy and become a super Tier-2 supplier of footwear materials, Coats, a manufacturer of footwear and garment thread and components, has acquired OrthoLite, a manufacturer of luxury insoles.
Coats stated that the acquisition of OrthoLite represents a strong strategic alignment and a unique opportunity to position the company as a global leader in supplying materials to the footwear industry. The company noted that this move builds on its already successful footwear business and enhances the value it delivers to customers.
Leading the industry in insole open-cell foam technology, OrthoLite offers exceptional advantages in terms of comfort, functionality, and sustainability. Cirql, a recently created patented foam technology that was introduced earlier this year and targets the midsole industry with a biodegradable or fully recyclable product, is part of the acquisition.
Coats has a rare strategic chance to solidify its position as the world’s leading shoe company because of this combination. Together with its standing as a technical leader, OrthoLite’s strategic emphasis on sustainability will further expand its array of cutting-edge products and fortify its offer to top shoe makers.
David Paja, CEO of Coats Group, described the combination of Coats and OrthoLite as a significant development for both companies and the broader footwear industry. He noted that the partnership brings together two global leaders operating in complementary segments of the footwear components market, united by a shared commitment to innovation and sustainability, as well as strong brand equity and customer relationships. Paja expressed enthusiasm about collaborating with Glenn Barrett and the OrthoLite team, highlighting the opportunity to leverage their combined strengths to help reshape the future of the footwear components industry.
Glenn Barrett, Founder and CEO of OrthoLite, remarked that the alliance creates a powerful partnership between industry leaders, offering a strong platform for both OrthoLite and Cirql to continue delivering the most innovative and sustainable footwear components globally. He emphasized the commitment to serving customers with cutting-edge solutions that align with evolving industry demands.
