Coats sells Opti Zips EMEA business operations
  • 04 Jul 2023
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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 Private Equity company based in Germany.

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

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Coats Group plc published this content on 04 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2023 06:09:34 UTC.