Announced
Completed
Financials
Tags
Single Bidder
Majority
footwear manufacturing
Acquisition
Friendly
Cross Border
Clothing and Accessories
Private
Germany
Completed
Synopsis
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.
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