Coats continues to flex its footwear offer - sportstextiles: Lea SportsTextiles

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Coats continues to flex its footwear offer

11/08/2022
Coats continues to flex its footwear offer
Hot on the heels of its acquisition of footwear materials developer Texon in July, UK industrial threadmaker Coats has agreed to purchase German shoe components manufacturer Rhenoflex. 

Headquartered in Ludwigshafen am Rhein, but with a global footprint extending to China and Vietnam, Rhenoflex’s speciality lies in footwear reinforcement components such as heel counters, toe puffs, interlinings and eyelets. It introduced a sustainability rating system for its products back in 2020. 

Group chief executive, Rajiv Sharma, described this newest addition as complementary to the Coats portfolio. “Rhenoflex is a high-quality business focused on sustainability and innovation and presents an exciting opportunity for Coats to establish a leading global platform in footwear components,” he commented.  

According to reports, the financial terms of the deal amounted to $112.4 million (£92 million). 

Image: Rhenoflex.

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