Gildan closes HanesBrands acquisition

Executive Summary

• Gildan Activewear Inc. has officially completed its acquisition of HanesBrands Inc., creating a global apparel leader.
• The transaction combines Gildan’s vertically integrated platform with HanesBrands’ iconic brands, aiming to unlock innovation and growth across activewear and innerwear channels.
• The companies target at least $200 million in run rate cost synergies, with a priority on seamless integration.

Key Details

• Transaction Status: Completion of the previously announced acquisition of HanesBrands Inc. by Gildan Activewear Inc.
• Strategic Rationale: Doubling scale by combining iconic brands with Gildan’s low-cost, vertically integrated platform.
• Synergies: Targeting at least $200 million in run rate cost synergies (as previously announced on Aug. 13, 2025).
• Brand Portfolio: The combined entity markets products under company-owned brands including Gildan, Hanes, Comfort Colors, American Apparel, Allpro, Goldtoe, Peds, Bali, Playtex, Maidenform, and Bonds.
• Licensing: Includes an exclusive licensing agreement for the Champion brand for the printwear channel in the United States and Canada.
• Geographic Reach: Products sold in North America, Europe, Asia Pacific, and Latin America.
• Manufacturing: Utilizes vertically integrated, large-scale manufacturing facilities primarily located in Central America, the Caribbean, North America, and Asia.

Notable Quotes

• "Today marks the beginning of an exciting new chapter. By welcoming HanesBrands into the Gildan family, we are doubling our scale, combining iconic brands with our world-class, low-cost, vertically integrated platform and unlocking a powerful engine for innovation and growth. Together, our complementary strengths in activewear and innerwear, across channels and geographies, position us to better serve our customers and deliver sustainable, long-term value for our shareholders," said Glenn J. Chamandy, president and chief executive officer of Gildan.
• "Our priority now is to execute a seamless, collaborative integration that enables us to fully capture the value of our expanded platform and deliver at least $200-million in run rate cost synergies, as announced on Aug. 13, 2025."