Coats Group plc has acquired Texon, the maker of premium structural components and materials for the footwear, accessories and apparel industries headquartered in Cleveland, UK.

With operations in Asia and Europe, Texon has a long heritage as a proven supplier of components including heel counters, toe puffs and nonwoven insoles to the world’s leading footwear brands.

Coats, the world’s leading industrial thread manufacturer, has a workforce of 17,000 people across six continents with revenues in 2021 of $1.5 billion. Headquartered in Uxbridge, UK, it is an FTSE 250 company.

“The acquisition of Texon will strengthen our existing presence in the highly attractive athleisure footwear market,” said Rajiv Sharma, Coats Group chief executive. “The business is complementary to Coats and provides attractive future commercial opportunities as we work together leveraging our combined expertise and knowledge. We recognise and share Texon’s focus on sustainability and innovation and believe that this acquisition strengthens our ability to fulfil these shared ambitions.”

www.texon.com

www.coats.com