US Edition
Gildan Acquires HanesBrands in $2.2 Billion Deal
The $2.2 billion acquisition aims to stabilize both companies amid financial struggles with HanesBrands' three years of declining sales, pending shareholder approval.
- On Aug. 12, Canada-based Gildan Activewear announced a $2.2 billion deal to acquire HanesBrands, valued at about $4.4 billion including debt.
- Meanwhile, Gildan faced leadership turmoil, with its board resigning and CEO stepping down, while HanesBrands' sales declined for three years and it hasn't turned a profit since 2021.
- HanesBrands shareholders will own about 19.9% of Gildan stock, and Gildan expects US$200 million in cost savings over three years, HanesBrands Chairman Bill Simon said.
- Gildan Activewear's shares climbed more than 10% in early trading, while Halper Sadeh LLC opened an investigation into the sale for potential violations.
- Subject to customary closing conditions, the transaction could wrap up by late 2025 or early 2026, with Gildan planning a strategic review of HanesBrands Australia that may lead to a sale.
17 Articles
17 Articles
News & Record
Winston-Salem JournalHanesBrands sale may symbolize end of corporate headquarters era in Winston-Salem
The local community will have to cross its fingers that Gildan Activewear Inc., with a major operational presence in Eden, Mocksville and Salisbury, will opt to convert HanesBrands Inc.'s headquarters in downtown Winston-Salem's Park Building — where it has about…
INVESTIGATION ALERT: Halper Sadeh LLC Continues to Investigate HBI, AMWD, SPNS, and PHLT on Behalf of Shareholders - American Woodmark (NASDAQ:AMWD), Hanesbrands (NYSE:HBI)
NEW YORK, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: HanesBrands Inc. (NYSE:HBI)'s sale to Gildan Activewear Inc. for 0.102 common shares of Gildan and $0.80 in cash for each share of HanesBrands common stock. If you are a HanesBrands shareholder, c…
Canada’s Gildan Activewear Is Buying Hanesbrands for $2.2 Billion
(AP) – Gildan Activewear is buying the struggling HanesBrands for $2.2 billion in a deal that gives the basic apparel maker access to household name brands like Hanes and Maidenform. The companies put the transaction’s valued at about $4.4 billion when HanesBrands’ debt is included. Gildan, in addition to its namesake brand, also makes American […]
The Quebec company says it wants to develop the brand of the American underwear manufacturer.
Coverage Details
Bias Distribution
- 70% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
