Coats Group has completed the acquisition of premium insoles maker OrthoLite Holdings as the restructuring apparel and footwear components supplier also said Q3 trading is on track.

Coats said the acquisition “strengthens the product portfolio and capabilities of [our] existing footwear business through expansion into the attractive, high-growth premium insole segment”.

It also said the purchase “is highly complementary, with significant overlap in customers, route to market and operational footprint, and opportunities to accelerate growth through innovation and cross-selling”.

In addition, Coats said it’s targeting initial annualised joint cost synergies of $20 million available by 2028, “leveraging Coats' experience of delivering significant value from footwear acquisitions”.

The buy

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