Gildan To Acquire Hanesbrands In US$ 2.2 Billion Deal
Montreal-based Gildan Activewear is set to acquire HanesBrands Inc. in a deal valued at US$ 2.2 billion, or about US$ 4.4 billion including debt, expanding its portfolio with well-known labels such as Hanes and Maidenform.
Under the terms, HanesBrands shareholders will receive 0.102 Gildan common shares plus US$ 0.80 in cash for each HanesBrands share. Once finalized, they will hold approximately 19.9% of Gildan’s outstanding stock.
HanesBrands chairman Bill Simon said the merger would strengthen the company’s financial and operational base, enabling “new growth opportunities, broader product offerings and greater global reach.”
Gildan confirmed that its headquarters will remain in Montreal, while the combined company will also maintain a significant presence in Winston-Salem, North Carolina, HanesBrands’ longtime base. The apparel maker also announced plans to conduct a strategic review of HanesBrands Australia, which could lead to a sale or other options.
The acquisition, which still requires approval from HanesBrands shareholders, is expected to close by late 2025 or early 2026.
