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

New US alliance to promote postal package delivery service

Textiles | On 15th Aug 2018

New US alliance to promote postal package delivery service

A group of US retailing, e-commerce and logistics firms recently...

Courtesy: Industriall Union

Apparel/Garments | On 15th Aug 2018

IndustriALL-Esprit agreement to improve workers' rights

IndustriALL Global Union recently signed a global framework agreement ...

Indian minister orders fresh consultations on e-com policy

Textiles | On 15th Aug 2018

Indian minister orders fresh consultations on e-com policy

Indian commerce and industry minister Suresh Prabhu has asked for...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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

Leave your Comments


August 2018

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

news category


Related Categories:

Advanced Search