Coats Group completed the acquisition of Rhenoflex for $117m.

Coats Group, an industrial thread and consumer textile crafts business, completed the acquisition of Rhenoflex, a manufacturer of sustainable structural material solutions for the footwear industry, for $117m. "We are delighted to announce the acquisition of Rhenoflex, which presents an exciting and synergistic opportunity for Coats to establish a leading global platform in footwear components, expanding our presence in the fast-growing athleisure footwear market. Rhenoflex is a high quality business that is complementary to both Texon and Coats and its strategic focus on sustainability and innovation will significantly enhance our proposition to customers," Rajiv Sharma, Coats CEO.