Coats Group has reached a definitive agreement to acquire insole materials manufacturer OrthoLite. In a statement to the London Stock Exchange, Coats gave an initial value of $770 million for the deal.

This could rise by a further $10 million depending on OrthoLite’s revenues in 2025. OrthoLite has confirmed that its open-cell foam technology brand Cirql is also part of the deal.

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