Gildan Activewear to Buy Hanesbrands for $2.2 Billion
U.S. undergarments maker Hanesbrands has been bought by Canadian firm Gildan Activewear in a $2.2 billion agreement, the companies announced Wednesday. Gildan, whose brands include Anvil, Gildan, American Apparel, Peds, and Gold Toe, will pay about $6 per Hanesbrands share. The companies said the transaction was valued at about $4.4 billion when HanesBrands' debt is included. The deal is expected to close in late 2025 or early 2026.
Gildan President and CEO Glenn Chamandy said the acquisition would double revenues and strengthen the opportunity to expand the heritage Hanes brand across channels.
"We're excited for the next stage of growth and remain focused on supporting our customers and continuing to drive long-term shareholder value," Chamandy added.
Total Retail's Take: The Associated Press reported that HanesBrands' sales have fallen for three consecutive years, and the company hasn't turned an annual profit since 2021. The North Carolina-based company sold off its Champion brand in 2024 to Authentic Brands Group in an attempt to offload assets and focus on its core categories. Gildan sees an opportunity to absorb a legacy brand with global recognition while maintaining its management more efficiently given Gildan's expertise in low-cost manufacturing.
