Coats Group plc, the manufacturer of thread and structural components for apparel and footwear, entered into an agreement to sell its Opti Zips EMEA business to Aequita, a Gemany-based private equity firm.
The sale of Opti Zips EMEA is in line with Coats’ strategic initiatives, announced in March 2022, to accelerate profitable sales growth and optimize the company’s portfolio and footprint.
Rajiv Sharma, Group Chief Executive Officer, said: “The sale of Opti Zips EMEA allows Coats Europe to focus on profitable growth in our core markets of industrial threads, footwear components and performance materials. The new owners Aequita and the experienced management team will continue serving customers and take the business forward. I wish them well for the future.”
Prior to this decision, Coats also consolidated its footwear activities in Vietnam in order to focus on every aspect of the business, ensuring optimal customer satisfaction and service.
