Home / Knowledge / News / Textiles / Aurelius to acquire EMEA Crafts business from Coats
Aurelius to acquire EMEA Crafts business from Coats
24
Feb '15
Aurelius Group has signed a binding deal to acquire the EMEA Crafts business of Coats plc, marketer of industrial threads and consumer textile crafts.

Coats said its EMEA Crafts business is the number one player in European textile crafts with a heritage dating back more than 250 years.

The acquisition includes the German headquarters and warehouse facilities as well as the Hungarian production site and the business generated revenues of US$150.8 million in 2013.

“The transaction is subject to a limited number of conditions usual for this type of transaction and is expected to complete in the second quarter of 2015.

According to a Coats press release, the sale will enable Coats plc to focus on further growing its successful global industrial and profitable Americas crafts businesses.

“Aurelius is experienced in complex corporate carve-out situations and focus on businesses with operational improvement potential,” Coats added.

Aurelius is expected to supply its highly specialised operational improvement capabilities to the company’s current operations, with a core focus on the long-term strategic development of the business.

Ownership of Coats EMEA Crafts brands including Schachenmayr, Patons, Regia, Rowan yarns, Milward, Puppets, Corona, Self Casa, Tre Cerchi and Royal Paris will pass to the new owners.

Aurelius will sell other Coats-owned brands in Europe under licensing and distribution agreements, which will also cover the ‘Make it Coats’ brand and European Coats Crafts website content.

Coats plc CEO Paul Forman said, “The agreement to sell EMEA Crafts follows a comprehensive review of the business, including its strategic fit within Coats.

“The decision to sell EMEA Crafts better positions Coats for future profitable growth and allows us to focus management attention on our high performing global industrial and strong Americas crafts businesses,” he too added.

Dirk Markus, CEO at Aurelius AG, said, “Aurelius and its operational experts will not only focus on swiftly completing the highly complex carve-out in 18 jurisdictions but also support the management team in unleashing EMEA Crafts’ full potential.” (AR)

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search