Acquisition of Texon expands Coats’ presence in athleisure footwear
- 06 Jul 2022
Coats, the world's leading industrial thread manufacturer, has acquired Texon, a global leader in premium structural components and materials for the footwear, accessories and apparel industries.
Texon provides high quality structural components to the global footwear market and has a long heritage as a proven supplier to the world’s leading brands. The business is focused on sustainable innovation and supplies high-performance, sustainable, materials, including heel counters, toe puffs and insoles to the highly attractive premium athleisure footwear market.
Texon, which has operations in Asia and Europe, is a complementary addition to Coats’ existing footwear business with attractive commercial opportunities from leveraging Coat’s existing footprint.
Rajiv Sharma, Group Chief Executive, said: ‘The acquisition of Texon will strengthen our existing presence in the highly attractive athleisure footwear market. The business is complementary to Coats and provides attractive future commercial opportunities as we work together leveraging our combined expertise and knowledge to succeed with our customers. We recognise and share Texon’s focus on sustainability and innovation and believe that this acquisition strengthens our ability to fulfil these shared ambitions.’
ENDS
For more information contact:
Ellen Johnson, Director of Brand and Communications
Ellen.Johnson@coats.com
M +44 (0) 7721 237884
Notes to Editors
About Coats
Coats is the world’s leading industrial thread company. At home in some 50 countries, Coats has a workforce of over 17,000 people across six continents. Revenues in 2021 were US$1.5bn.
Coats provides complementary and value-adding products, services and software solutions to the apparel and footwear industries. It also applies innovative techniques to develop high technology performance materials threads, yarns, fabrics and composites in areas like personal protection, telecoms, energy, transportation, and household and recreation.
Headquartered in the UK, Coats is a constituent of the FTSE 250 and FTSE4Good Index Series. It is a participant in the UN Global Compact, a member of the Ellen MacArthur Foundation, has approved short term Science Based Targets to 2030 and is committed to developing a long-term target to reach net-zero emissions by 2050, the highest level of ambition on climate change under the Science Based Target initiative.
The pioneering history and innovative culture of Coats enable the delivery of its purpose to connect talent, textiles and technology to make a better and more sustainable world.
About Texon
Texon is a leading manufacturer of high performance, sustainable materials for footwear, accessories and functional apparel. With a proud heritage dating back more than 75 years, Texon’s broad product portfolio includes innovative structural components, revolutionary woven materials, creative cellulose solutions and high-performance fabrics. Trusted by the world’s best-known brands for its technical know-how and unwavering commitment to the environment, Texon is a global business, with a local way of working and teams in more than 90 countries. Always striving for better, Texon’s ambition is zero waste by 2025. This goal drives the business to make a sustainable difference - creating high quality products that have a positive impact on our planet, our communities, and our future.