London-based Coats Group has completed its acquisition of U.S.-based footwear insole maker OrthoLite. Coats, a manufacturer of specialty threads and structural components for apparel and footwear, said 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.”
Coats noted that both companies have a “similar customer base, a complementary global footprint and strong commitments to 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 Coats CEO David Paja. “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.
“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 OrthoLite Founder and CEO. “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 organizational structure — previously Apparel, Footwear and Performance Materials — to a 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 COO, and Adrian Elliott, Apparel CEO and Group CCO. Barrett will continue to lead the OrthoLite business. External reporting will transition to this structure for the financial year ending December 2026.
Image courtesy Ortholite
