Announced
Financials
Tags
crafts
sewing threads
Acquisition
United States
Private
Textile Products
Pending
Friendly
Single Bidder
Majority
Synopsis
Spinrite, a yarn manufacturer, agreed to acquire North American Crafts business of Coats Group, an industrial thread manufacturer, for $37m. "The sale of our standalone North America Crafts business allows us to focus completely on our high performing business-to-business global Apparel and Footwear, and Performance Materials businesses. It also gives North America Crafts more opportunities to grow by being part of a large crafting group," Rajiv Sharma, Coats Group CEO.
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