Gildan Activewear to acquire HanesBrands in $2.2 billion deal including Maidenform

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Gildan Activewear has announced it will acquire HanesBrands in a $2.2 billion deal. The purchase will give the Canadian company control of brands such as Hanes and Maidenform.

HanesBrands is a well-known American apparel manufacturer specializing in underwear, activewear, and hosiery. Its products are sold in stores across the U.S. and internationally.

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The Context

Gildan is based in Montreal and is known for producing blank apparel for screen printing and retail. The acquisition expands its brand portfolio significantly.

The deal is valued at $2.2 billion and includes both cash and debt considerations. Company officials say it will strengthen their position in the global apparel market.

Supporters of the acquisition see it as a growth opportunity for Gildan. They say it will allow for greater market reach and product diversification.

Critics warn that such deals can lead to job cuts or changes in manufacturing locations. They also raise concerns over market consolidation.

Hanes and Maidenform are established brands with strong consumer recognition. Integrating them into Gildan’s portfolio may create new marketing opportunities.

The transaction is expected to close after regulatory approval. Both companies plan to maintain current operations during the transition.