Coats acquires Rhenoflex, strengthening its presence in footwear components
- 10 Aug 2022
Coats, the world's leading industrial thread manufacturer, has acquired Rhenoflex GmbH (Rhenoflex), one of the leading global manufacturers of sustainable reinforcement solutions for the footwear and accessories industries.
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, 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.’
ENDS
For more information contact:
Ellen Johnson, Director of Brand and Communications
Ellen.Johnson@coats.com
M +44 (0) 7721 237884
Nick Hasell, FTI Consulting LLP
coats@fticonsulting.com
T: +44 (0)20 3727 1340
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 Rhenoflex
Rhenoflex is the world’s leading supplier of sustainable reinforcement solutions. Since 1952, its unique process understanding and extensive product expertise, offers their customers innovative and sustainable solutions for the footwear and lifestyle market.
Whoever is not just a pure producer of reinforcing materials, but develops sustainable reinforcement solutions, must be able to understand and optimise the complete production process of their customers. Rhenoflex in-depth knowledge of all the necessary functions combined with chemical expertise, an open, customer-oriented mentality and constant national and international exchange with their customers' production and design centres enable them to offer sustainable and high-performing solutions in every individual case.
At home in some 30 countries and headquartered in Ludwigshafen, Germany. Own production sites are located in Europe, China, Vietnam and Mexico. The Rhenoflex Group is, among others, a member in the UN Global Compact and has set themselves the target to be climate neutral by 2030, in scope 2 and 3.
As a pioneer thinks ahead, Rhenoflex’s driving force is a passion for innovation, technology, and sustainability.