Gildan Plans $4.4B Hanesbrands Acquisition Expanding Apparel Reach

Gildan Activewear is acquiring HanesBrands in a deal valued at approximately $2.2 billion in cash and shares, with Gildan also assuming about $2 billion in HanesBrands debt. The acquisition aims to create a global leader in basic apparel, with expected annual synergies of $200 million, expanding market reach and operational efficiencies. Gildan’s stock surged over 10% following the announcement, reflecting investor confidence fueled by Gildan's strong Q2 earnings performance. HanesBrands’ leadership expressed optimism about the transaction, emphasizing the benefits of joining Gildan's stronger financial and operational foundation. Despite some market skepticism about potential challenges, analysts largely view the deal as a strategic move to strengthen both companies’ competitiveness. The combined company will maintain a significant presence in Winston-Salem while Gildan's headquarters remain in Montréal.