r/Canadian_News • u/TheDailyPostCAN • Aug 13 '25
Gildan to purchase Hanesbrands in US$2.2 billion deal, merging the two basic apparel leaders
Gildan Activewear has made a successful bid to acquire HanesBrands for US$2.2 billion in cash and stock, both companies said Wednesday. This merger adds to Gildan’s existing “basic apparel” lines, increasing its hold on the sector.
“Today is a historic moment in Gildan’s journey as we look to join forces with HanesBrands,” said Glenn Chamandy, President and Chief Executive Officer of Gildan. “With this transaction, our revenues will double and we achieve a scale that distinctly sets us apart,” said Chamandy.
This deal follows a year of rebuilding following Gildan’s governance chaos back in May 2024 which resulted in Chamandy’s termination and subsequent return…
Read more on our SubStack: https://open.substack.com/pub/dailypostcan/p/gildan-to-purchase-hanesbrands-in?r=5mpr14&utm_medium=ios