Gaoshi Group Completes Acquisition of OrthoLite, Strengthens Footwear Business

On October 30, 2025, Coats Group, a global leader in the supply of critical components for apparel and footwear, announced the completion of its acquisition of OrthoLite. OrthoLite is a leader in the global footwear materials market and a high-end brand. Leading brand in the field.

This acquisition is an important milestone in Coats Group's long-term development strategy. By entering the high-growth, high-potential premium insole market, it further strengthens the company's existing footwear business. The two companies have highly overlapping customer bases, complementary global business layouts, and are jointly committed to industry-leading innovation and sustainable development practices.

David Paja, CEO of Coats Group, stated: "OrthoLite is one of the most innovative footwear material manufacturers in the world. With the strengths of both parties, we will be able to provide more forward-looking footwear solutions to our customers while ensuring that both companies consistently uphold trusted quality. We are very pleased to welcome Glenn Barrett and the OrthoLite team to the Coats Group family."

On July 16, 2025, GaoShi Group announced its intention to acquire OrthoLite and its sustainable materials brand Cirql for an initial enterprise value of $770 million. Following several other footwear industry mergers and acquisitions, this acquisition is the latest initiative to realize the company's strategic vision—enhancing quality, efficiency, and performance through innovative technology, sustainability, and digital technology, shaping the future of the global apparel and footwear supply chain.

Glenn Barrett, founder and CEO of OrthoLite, stated: "I believe that Coats Group's acquisition of OrthoLite will bring more value and opportunities to our customers and employees, while continuing to maintain the excellent partnership we have been proud of for many years. After leading the high-end insole sector for 28 years, I look forward to embarking on a new chapter of development with Coats Group."

In order to better reflect the expansion of its scale and the enhancement of its footwear business capabilities, Hosh Group will streamline its existing three business divisions—apparel, footwear, and high-performance materials—into two focused divisions dedicated to apparel and footwear. The original high-performance materials business will be integrated into these two new divisions.

Under the new structure, the Large Business Division will be led by Pasquale Abruzzese, CEO of the Footwear Business and Group COO, and Adrian Elliott, CEO of the Apparel Business and Group CBO. Glenn Barrett will continue to lead the OrthoLite business. The Group will officially disclose its financial reports according to the new structure at the end of the fiscal year ending December 2026.