Canadian apparel maker Gildan Activewear has completed its $2.2 billion acquisition of HanesBrands, creating a global leader in activewear and innerwear with a broader brand portfolio and manufacturing footprint.
Gildan Activewear Inc. has finalized its $2.2 billion acquisition of HanesBrands Inc., a deal that significantly expands its scale and brand portfolio. The transaction, announced earlier this year and closed on December 1, brings together two major players in the apparel industry under one roof.
Global operations and shareholder terms
The combined company will operate across North America, Europe, Asia Pacific, and Latin America, supported by vertically integrated manufacturing facilities in Central America, the Caribbean, and Asia. HanesBrands shareholders will receive $0.80 in cash and 0.102 Gildan shares per HanesBrands share, giving them approximately 19.9 percent ownership in the merged entity.
Brand portfolio expansion and synergy targets
The acquisition adds well-known labels such as Hanes, Comfort Colors, American Apparel, Maidenform, Playtex, Bonds, and others to Gildan’s portfolio. It also includes an exclusive licensing agreement for Champion in the US and Canada printwear channel. According to Gildan CEO Glenn J. Chamandy, the integration aims to deliver $200 million in annual cost synergies while leveraging complementary strengths to drive innovation and growth.
About Gildan
Founded in Montreal, Gildan Activewear is a leading manufacturer of basic apparel, including activewear, socks, and underwear. The company operates a large-scale, vertically integrated supply chain focused on efficiency and sustainability.
About HanesBrands
HanesBrands Inc., based in Winston-Salem, North Carolina, is known for its innerwear and activewear brands, with a strong presence in the US and international markets.
