HanesBrands Inc., Winston-Salem, N.C., plans to acquire France-based DBApparel (DBA), a marketer of intimate apparel, hosiery and underwear in Europe, from Sun Capital Partners Inc., Boca Raton, Fla., for some $550 million.
Hanes and DBA were sister companies owned by Sara Lee Corp., Chicago, which in 2006 sold DBA to Sun Capital and divested Hanes as an independent public company. HanesBrands reports the acquisition of DBA would give it an expanded presence including in Western and Central European countries, where it currently is not active. The combined company would be one of the largest basic innerwear apparel companies in the world, with global rights to the Playtex®, Wonderbra® and DIM® brands.
Commenting on the acquisition, HanesBrands Chairman and CEO Richard A. Noll said: “We will be able to reunite two great companies to create significant growth and margin-expansion opportunities. Together, we will be a nearly $6 billion company utilizing our disciplined Innovate-to-Elevate strategy and leveraging our global supply chain.”
DBA sells its innerwear products in 16 countries, mainly in Western and Central Europe. The company operates its own manufacturing facilities and sources from third-party manufacturers. Its self-owned hosiery production facilities are located in France, Germany, Slovakia and Romania. Some 75 percent of its intimate apparel and underwear production is outsourced.
HanesBrands maintains a substantial global network of its own production facilities for intimate apparel and underwear.
Closing of the transaction is expected as early as third quarter 2014.