Coats sells Opti Zips EMEA business operations
- 04 Jul 2023
Coats Group plc, the world’s leading manufacturer in thread and structural components for apparel and footwear, as well as an innovative pioneer in performance materials, has entered into an agreement to sell its Opti Zips EMEA business to Aequita, a German family office.
The sale of Opti Zips EMEA is in line with Coats’ strategic initiatives, announced in March 2022, to accelerate profitable sales growth and optimise the company’s portfolio and footprint.
Rajiv Sharma, Group Chief Executive Officer, said: "The sale of Opti Zips EMEA allows Coats Europe to focus on profitable growth in our core markets of industrial threads, footwear components and performance materials. The new owners Aequita and the experienced management team will continue serving customers and take the business forward. I wish them well for the future."
ENDS
For more information, please contact:
Coats Press Office
communications@coats.com
Notes to Editors
About Coats Group plc
Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data, and the environment. Headquartered in the UK, Coats is a FTSE250 company and a FTSE4Good Index constituent. Revenues in 2022 were $1.6bn.
Trusted by the world's leading companies to deliver vital, innovative, and sustainable solutions, Coats provides value-adding products, including apparel, accessory and footwear threads, structural components for footwear and accessories, fabrics, yarns, and software applications. Customer partners include companies from the apparel, footwear, automotive, telecoms, personal protection, and outdoor goods industries.
With a proud heritage dating back more than 250 years and a spirit of evolution to constantly stay ahead of changing market needs, Coats has operations across some 50 countries with a workforce of over 17,000, serving its customers worldwide.
Coats connects talent, textiles, and technology to make a better and more sustainable world. Worldwide, there are three dedicated Coats Innovation Hubs, where experts collaborate with partners to create the materials and products of tomorrow. It participates in the UN Global Compact and is committed to Science Based sustainability targets for 2030 and beyond, with a goal of achieving net-zero by 2050. Coats is also committed to achieving its goals in Diversity, Equity & Inclusion, workplace health & safety, employee & community wellbeing, and supplier social performance.