Montréal-based Gildan Activewear Inc. and Hanes-Brands Inc.,Winston-Salem, N.C., have entered into a definitive merger agreement under which Gildan will acquire HanesBrands. The transaction implies a value of approximately $2.2 billion in equity and $4.4 billion in enterprise value for HanesBrands.The deal will double Gildan’s revenues and strengthen its positioning in activewear and retail channels, while enhancing efficiency and innovation through Gildan’s vertically integrated platform.
“Today is a historic moment in Gildan’s journey as we look to join forces with HanesBrands,” said Glenn J. Chamandy, Gildan’s president and CEO.“With this transaction, our revenues will double and we achieve a scale that distinctly sets us apart.The combination with HanesBrands strengthens our positioning with an opportunity to expand the heritage
‘Hanes’ brand presence in activewear across channels, while enhancing Gildan’s retail reach for its portfolio of brands.”
Steve Bratspies, CEO of HanesBrands, added:“This transaction represents a powerful alignment of HanesBrands’ and Gildan’s shared commitment to quality, innovation, and excellence. We have great respect for Gildan’s manufacturing strength and long track record of success.”
2024 Quarterly Issue III
