Uxbridge - Coats, the supplier of industrial threads widely used in the knitting sector, has acquired Texon, which produces structural components and materials for apparel and footwear.

Finanical terms of the deal were not undisclosed.

Texon’s services, which include the manufacture of ‘sustainable’ innovations and supplying high-performance materials predominantly to those within the athleisure footwear marker, are expected to bolster Coats’ offering and advance its market standing.

Rajiv Sharma, chief executive of the Coats Group, commented: “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,” he continued.

“We recognise and share Texon’s focus on sustainability and innovation and believe that this acquisition strengthens our ability to fulfil these shared ambitions.”

Texon has operations across Europe and Asia which will now align with Coats’ global presence to support its manufacturing capacity and offering.

Its onus on sustainability is believed to align well with Coats’, as the firm looks to appease a more environmentally conscious customer base.

Notably, Coats recently launched EcoCycle, a range of water dissolvable threads which it hopes will streamline the end-of-life disassembly of a garment.

The British firm has called on brands, manufacturers and recyclers to collaborate with it on the development on a new “circularity concept” that it believes could make recycling both easier and more cost effective.