{"id":4537,"date":"2019-01-22T11:04:24","date_gmt":"2019-01-22T11:04:24","guid":{"rendered":"http:\/\/coats.com\/?post_type=news_post_type&#038;p=4537"},"modified":"2025-02-04T12:44:26","modified_gmt":"2025-02-04T07:14:26","slug":"coats-sells-north-america-crafts-business","status":"publish","type":"news_post_type","link":"https:\/\/www.coats.com\/fr\/news\/2019\/01\/coats-sells-north-america-crafts-business\/","title":{"rendered":"Coats sells North America Crafts business"},"content":{"rendered":"<h2>Coats, the world\u2019s leading industrial thread manufacturer has sold its North America Crafts business to Spinrite, a leading craft company and provider of craft knitting yarns in North America.<\/h2>\n<p>Spinrite produces both branded and private label products and has a diversified presence across multiple channels with a focus on craft retailers.\u00a0 Founded in 1952, it is headquartered in Listowel, Ontario, Canada.\u00a0 It is well positioned, experienced and connected to drive the NAm Crafts business forward.<\/p>\n<p>Approximately 560 North America Crafts employees, will become part of Spinrite.\u00a0 The manufacturing site and distribution centre in Albany, and the sites in Toccoa and Douglas will transfer to Spinrite ownership.\u00a0 The sale includes the well known Crafts brands Red Heart, Coats &amp; Clark, Aunt Lydia and Susan Bates.\u00a0 Anchor, Coats EcoVerde Dual Duty and J&amp;P Coats will be licensed for varying terms.<\/p>\n<p>Rajiv Sharma, Group Chief Executive, Coats, said: \u2018We are proud of our 120 years of crafts heritage in North America and the long association we have had with crafters but the crafting market has evolved in the past decade.\u00a0 This requires a higher degree of specialisation, scale, innovation and digital capabilities to succeed.\u00a0 The sale of our standalone North America Crafts will have a stronger future with Spinrite.\u00a0 It also allows us to focus complete attention on our high performing business-to-business global Apparel and Footwear, and Performance Materials segments.\u2019<\/p>\n<p>The initial cash consideration payable at completion is $37m.\u00a0 The sale which is conditional upon a limited number of conditions usual for this type of transaction, is anticipated to complete during the coming weeks.\u00a0 Proceeds from the sale will be used to make further value accretive acquisitions in the strategic focus areas of high-tech Performance Materials and Software Solutions businesses.<\/p>\n<p><strong>ENDS<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Coats, the world\u2019s leading industrial thread manufacturer has sold its North America Crafts business to Spinrite, a leading craft company and provider of craft knitting yarns in North America.<\/p>","protected":false},"featured_media":4577,"template":"","news-type":[149,151,150],"class_list":["post-4537","news_post_type","type-news_post_type","status-publish","has-post-thumbnail","hentry","news-type-group","news-type-people","news-type-product-services"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.2 (Yoast SEO v25.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coats sells North America Crafts business | Coats Group plc<\/title>\n<meta name=\"description\" content=\"Coats has sold its North America Crafts business to Spinrite, a leading craft company and provider of craft knitting yarns in North America.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.coats.com\/fr\/news\/2019\/01\/coats-sells-north-america-crafts-business\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta 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