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Gildan Activewear to Acquire HanesBrands in $2.2 Billion Deal

Subject to a HanesBrands shareholder vote, the transaction locks in Gildan’s Montreal headquarters with a planned evaluation of its Australian operations.

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Overview

  • HanesBrands shareholders will receive 0.102 Gildan shares plus $0.80 in cash for each share, valuing the equity portion at $2.2 billion and the enterprise at about $4.4 billion including debt.
  • Upon closing, former HanesBrands investors are set to own roughly 19.9 percent of Gildan’s outstanding stock.
  • The agreement, which still needs HanesBrands shareholder approval, is slated to close later this year or in early 2026.
  • Gildan will keep its headquarters in Montreal and maintain a significant operational presence in Winston-Salem, North Carolina.
  • As part of integration planning, Gildan will conduct a strategic review of HanesBrands Australia that could lead to a divestiture of those assets.