The company first announced plans to acquire OrthoLite and the associated sustainable materials brand Cirql on 16 July 2025, with an initial enterprise value for the transaction set at $770m.
The move signals Coats’ focus on strengthening its footwear division by expanding into the premium insole segment.
OrthoLite, headquartered in Amherst, Massachusetts, supplies open-cell foam technology and is responsible for the development of OrthoLite Cirql.
According to information on LinkedIn, the company employs over 3,000 people worldwide and partners with more than 500 global footwear brands.
Its manufacturing presence extends to Vietnam, China, India, Indonesia, Spain and Brazil.
Both Coats and OrthoLite share a similar client base and geographical reach.
Coats CEO David Paja said: “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.”
Having completed the transaction, Coats will implement a new organisational structure. The existing three-division model comprising Apparel, Footwear, and Performance Materials will be simplified into two divisions, Apparel and Footwear.
The Performance Materials businesses will merge into these two new divisions as part of this change.
Pasquale Abruzzese will lead the Footwear division as CEO and group chief operating officer, while Adrian Elliott will head Apparel as CEO and group chief commercial officer. Glenn Barrett will remain at the helm of the OrthoLite business.
The company will implement external reporting aligned with this structure for the financial year ending December 2026.
Glenn Barrett said: “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.”
This acquisition represents Coats’ most recent move after earlier footwear deals, to advance its goal of influencing the global apparel and footwear supply chain by implementing “innovation, sustainability, and digital technologies” aimed at enhancing “quality, efficiency and performance”.
“Coats Group finalises $770m acquisition of OrthoLite in footwear sector push” was originally created and published by Just Style, a GlobalData owned brand.
