Coats Group, a leader in apparel and footwear components, announced that it has completed the acquisition of OrthoLite, a market leader in footwear materials and the top brand in premium insoles. The move represents a significant milestone in Coats’ long-term strategy to strengthen its position in the global footwear industry through expansion into the premium insole market.
The acquisition builds on Coats’ ongoing focus on sustainable innovation and digital transformation across its global operations. Both companies share a complementary customer base, a similar global footprint, and a shared commitment to sustainability and performance-driven design.
Coats initially announced its intention to acquire OrthoLite, along with its sustainable materials brand Cirql, on July 16, 2025, for an enterprise value of $770 million. The deal aligns with the company’s broader ambition to advance the apparel and footwear supply chain through technologies that enhance efficiency, quality, and sustainability.
Following the acquisition, Coats will reorganize its business from a three-division model—Apparel, Footwear, and Performance Materials—into two divisions focused on Apparel and Footwear. The existing Performance Materials business will be integrated into these divisions. The new structure will take effect for external reporting in the financial year ending December 2026.
The Footwear division will be led by Pasquale Abruzzese, currently Footwear CEO and Group Chief Operating Officer, and the Apparel division will be headed by Adrian Elliott, Apparel CEO and Group Chief Commercial Officer. Glenn Barrett, Founder and CEO of OrthoLite, will continue to lead the OrthoLite business as part of Coats.
Headquartered in the UK, Coats employs approximately 16,000 people across more than 50 countries and reported revenue of $1.5 billion in 2024. The company is an FTSE 250 constituent and a member of the FTSE4Good Index.
KEY QUOTES:
“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. We’re delighted to officially welcome Glenn and the OrthoLite team to the Coats family.”
David Paja, Group Chief Executive Officer, Coats Group plc
“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. After 28 years leading the way in premium insoles, I look forward to this next era of growth with Coats.”
Glenn Barrett, Founder and CEO, OrthoLite
