Texon acquisition expands Coats’ footwear presence
Texon has developed a reputation for producing high-performance and sustainable materials.
Industrial thread manufacturer Coats Group plc has acquired Texon, a producer of structural components and materials for the global footwear, accessories and apparel industries.
Texon has a long heritage as a supplier to international brands. The company – which has operations in Asia and Europe – is said to be focused on sustainable innovation while delivering high-performance and sustainable materials, including heel counters (stiffeners), box toes (toe puffs) and insoles, to the premium athleisure footwear market.
Commenting on the announcement, Rajiv Sharma, chief executive of the Coats Group, 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.”
This article was originally published on page 3 of the July/August 2022 issue of SATRA Bulletin.