The acquisition of Rhenoflex GmbH (‘Rhenoflex’), one of the leading global manufacturers of sustainable structural material solutions for the footwear industry, was completed in August 2022 following satisfaction of the completion conditions.
The combination of Coats and Rhenoflex represents a strategic opportunity for Coats to establish a leading global platform in footwear components and strengthen its position with global footwear brands.
Rhenoflex supplies high performing footwear reinforcement components including heel counters, toe puffs, interlinings and eyelets, alongside sustainable lifestyle reinforcement material solutions for the luxury industry. It has a global footprint with manufacturing operations in Vietnam, China, and Germany, providing close proximity to major manufacturing hubs for footwear and luxury fashion accessories brands. The company’s strategic focus on sustainability and its reputation as a technology leader will further enhance Coats’ portfolio of innovative offerings.
Rajiv Sharma, Coats Group Chief Executive, said:
"We are delighted to announce the acquisition of Rhenoflex, which is a complementary addition to Coats. 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."
Industry technology leader with portfolio of innovative and sustainable offerings
- Focus on Sustainability - Eco-friendly manufacturing inputs including use of use of recycled materials and renewable materials, plus utilisation of sustainable production methods
- Focus on Innovation and Technology - Pipeline of innovative new products including a vegan product line and leather waste recycling