Gildan Activewear and HanesBrands have finalized a significant merger agreement that will result in Gildan acquiring HanesBrands. This strategic transaction represents an impressive equity value of approximately $2.2 billion, coupled with an enterprise value nearing .4 billion for HanesBrands. According to Gildan’s President and CEO, Glenn J. Chamandy, this merger is set to double the company’s revenues and create a scale that distinctly differentiates them in the market. He emphasized that this combination will not only strengthen their market position but also provide an excellent opportunity to expand the legacy of the ‘Hanes’ brand within the activewear sector across various channels, while simultaneously enhancing Gildan’s retail reach for its diverse portfolio of brands.
Gildan and HanesBrands Join Forces to Forge a Powerful Global Basic Apparel Leader [press release]
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