Spinrite Acquires Coats & Clark Inc.'s North America Crafts Business
January 23, 2019
Spinrite, a Listowel, Ontario-based craft company, will acquire the North American Crafts business of Coats Group plc, including the Red Heart, Coats & Clark, Aunt Lydia and Susan Bates brands (with Anchor, Dual Duty XP and J&P Coats licensed for varying terms). The deal, announced January 2019, expands Spinrite’s product assortment into sewing thread, embroidery thread and zippers; Spinrite is backed by Comvest Partners, which provided financial sponsorship for the transaction.
- Buyers
- Spinrite, Comvest Partners
- Targets
- Coats & Clark Inc. (North America Crafts business)
- Sellers
- Coats Group plc
- Platforms
- Spinrite
- Industry
- Consumer Products
- Location
- North Carolina, United States
- Transaction Type
- Addon
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