Reported about 20 hours ago
Gildan Activewear has announced its acquisition of Hanesbrands for $2.2 billion, aiming to merge their strengths in basic apparel, including T-shirts and underwear. The deal, which values Hanesbrands at around $4.4 billion, is expected to double Gildan’s annual revenue and enhance its manufacturing capabilities. Gildan CEO Glenn Chamandy emphasized that the acquisition will improve their market presence and accelerate sales, with anticipated annual cost synergies of at least $200 million within three years. The transaction is expected to close in late 2025 or early 2026.
Source: YAHOO