Long-time S&C client Gildan Activewear has agreed to acquire HanesBrands for an equity value of $2.2 billion and an enterprise value of $4.4 billion in a deal that will create a global basic apparel leader. This transaction marks Gildan’s largest deal to date.
S&C has counseled Gildan for over two decades, including advising on its acquisitions of American Apparel, Alstyle Apparel, Anvil Holdings, Comfort Colors, Gold Toe Moretz and Phoenix Sanford.
Montreal, Canada-based Gildan is a leading manufacturer of everyday basic apparel. Gildan’s products include activewear, underwear and socks, sold to a range of customers, including wholesale distributors, screenprinters, embellishers and retailers.
HanesBrands is a global leader in everyday iconic apparel based in Winston-Salem, North Carolina.
The S&C team advising Gildan includes Brian Hamilton and Matthew Goodman. Davis Wang and Tessa Lee are advising on tax matters. Neal McKnight is advising on financing matters. Regina Readling is advising on executive compensation matters. Steve Holley and Juan Rodriguez are advising on antitrust matters.