Coats Group to acquire OrthoLite for $770m.

Coats Group, a British multinational company, agreed to acquire OrthoLite, a provider of premium insoles, for $770m. "The combination of Coats and OrthoLite is fantastic news for both companies and for the footwear industry. It brings together two global leaders in adjacent segments of the footwear components sector with a shared vision for innovation and sustainability and with unparalleled brands and customer relationships. We look forward to working with Glenn Barrett and the OrthoLite team, leveraging our combined strengths to reshape the future of the footwear components industry," David Paja, Coats Group Chief Executive.