Gildan Activewear and HanesBrands have entered right into a definitive merger settlement underneath which Gildan will purchase HanesBrands. This transaction implies an fairness worth of roughly $2.2 billion and an enterprise worth of roughly $4.4 billion for HanesBrands. “With this transaction, our revenues will double and we obtain a scale that distinctly units us aside,” Gildan President and CEO Glenn J. Chamandy mentioned in a press release. “The mix with HanesBrands strengthens our positioning with a possibility to increase the heritage ‘Hanes’ model presence in activewear throughout channels, whereas enhancing Gildan’s retail attain for its portfolio of manufacturers.”
Gildan and HanesBrands Agree to Combine To Create a Global Basic Apparel Leader [press release]
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