Fashion
Canada’s Gildan Activewear to acquire HanesBrands in $4.4 bn deal
Under the deal, HanesBrands shareholders will receive 0.102 Gildan shares and $0.80 in cash per share, representing a 24 per cent premium to HanesBrands’ August 11 closing price. Upon completion, they will own about 19.9 per cent of Gildan on a non-diluted basis.
Gildan Activewear will acquire HanesBrands in a $4.4 billion deal, doubling Gildan’s revenues and expanding into iconic innerwear brands.
HanesBrands shareholders will get cash and shares, holding 19.9 per cent post-close.
The merger targets $200 million in cost synergies within three years, with over 20 per cent EPS accretion.
Headquarters will remain in Montreal.
The combination will double Gildan’s revenues, expand its reach into iconic innerwear brands, and strengthen its low-cost vertically integrated manufacturing network. The companies expect at least $200 million in annual run-rate cost synergies within three years—$50 million in 2026, $100 million in 2027, and $50 million in 2028. The deal is forecast to be immediately accretive to adjusted diluted EPS and deliver more than 20 per cent EPS accretion once synergies are realised, the two companies said in a joint media release.
Gildan will maintain headquarters in Montreal and a strong presence in Winston-Salem. The transaction, approved unanimously by both boards, is subject to shareholder and regulatory approvals, with closing expected in late 2025 or early 2026. Financing includes $2.3 billion in committed facilities, with Gildan targeting a net debt-to-adjusted EBITDA ratio of ≤2.0x within 18 months post-close.
The merged entity aims for net sales growth of 3–5 per cent annually, capex of 3–4 per cent of sales, and adjusted EPS growth in the low 20 per cent range through 2028. Strategic alternatives will be reviewed for HanesBrands Australia, potentially including a sale, the release added.
“Today is a historic moment in Gildan’s journey as we look to join forces with HanesBrands. We are extremely pleased to welcome the HanesBrands’ team to the Gildan family,” commented Glenn J 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. The combination with HanesBrands strengthens our positioning with an opportunity to expand the heritage “Hanes” brand presence in activewear across channels, while enhancing Gildan’s retail reach for its portfolio of brands. Further, our state of the art low-cost vertically integrated platform will be utilised to enhance efficiencies and drive additional innovation. We are excited for the next stage of growth and remain focused on supporting our customers and continuing to drive long term shareholder value.”
“This transaction represents a powerful alignment of HanesBrands’ and Gildan’s shared commitment to quality, innovation, and excellence. We have great respect for Gildan’s manufacturing strength and long track record of success. We look forward to expanding upon HanesBrands’ portfolio of leading innerwear brands and go-to-market expertise and opening new doors for growth and impact as part of Gildan,” said Steve Bratspies, CEO of HanesBrands.
“This transaction represents a pivotal moment in Gildan’s story,” said Michael Kneeland, chair of the board of directors of Gildan. “Hanes is a distinguished brand with a proud legacy, and by joining forces with HanesBrands, we are forging an exceptional organisation built on the strengths of both companies. Leveraging best practices and the exceptional teams from each side, we are poised to deliver outstanding value to our customers and shareholders. With the finest talent in the industry, we have an extraordinary opportunity ahead to shape the future together.”
Bill Simon, chairman of HanesBrands’ board of directors, commented, “We are very pleased to have reached this agreement with Gildan which delivers significant and certain value for our shareholders, both through immediate cash and substantial upside potential of the combined company. As part of Gildan, HanesBrands will benefit from an even stronger financial and operational foundation that will provide new growth opportunities – helping to power further innovation, a broader product offering and greater reach across channels and geographies. We are confident that this transaction and the next chapter with Gildan is the right next step for HanesBrands and will honour and build on its long history for the benefit of all our stakeholders.”
Fibre2Fashion News Desk (KD)
The collection features distinct women’s and men’s capsules designed for movement, comfort and self-expression.
H&M India has launched its official Lollapalooza India 2026 merchandise collection, marking its second year as festival sponsor.
The limited-edition drop features bold graphics, vibrant colours and relaxed silhouettes.
With separate women’s and men’s capsules, the range includes graphic tees, caps and tote bags designed for comfort, movement and self-expression from day to night performances.
“Lollapalooza India is a strong cultural moment, and a natural space for H&M to connect with a younger generation. Fashion today is about self-expression and confidence, and through this collaboration we reinforce our commitment to creating accessible, culturally relevant fashion that empowers individuality,” said Helena Kuylenstierna, Director, H&M India.
The range features graphic merchandise tees for both women and men, along with festival essentials such as caps and tote bags. Each piece is designed to move seamlessly from day sets to night performances.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
Apparel imports (code **) eased to Au$*.*** billion (~$*.*** billion), compared with Au$*.*** billion a year earlier. In November ****, imports fell sharply by **.** per cent year on year to Au$*.*** billion (~$*.*** billion) from Au$*.*** billion. The November contraction points to retailers delaying replenishment amid weak consumer confidence, promotional stock overhangs, and a preference for tighter inventory management ahead of the peak sales season.
Imports of textile yarn, fabrics, and made-up articles (code **) increased *.** per cent to Au$*.*** billion (~$*.*** billion) from Au$*.*** billion in the same period last year. However, November **** shipments under this category slipped to Au$*** million, down from Au$*** million in November ****, indicating short-term moderation after earlier restocking by manufacturers and converters.
The CFDA x NY Forward Grant Fund, developed with funding from both the New York State Department of State and Ralph Lauren Corporation (Ralph Lauren), will provide partially matching grants to designers and manufacturers based in New York City’s Garment District. The U.S. Fashion Manufacturing Fund, created with Ralph Lauren as founding partner, will support apparel manufacturers nationwide. Both programs aim to help companies to modernize equipment, expand services, and train workers – building the capacity and resilience of American fashion manufacturing.
CFDA has launched two new grant programmes with Ralph Lauren to strengthen American fashion manufacturing.
The CFDA x NY Forward Grant Fund will support New York City’s Garment District, while the US Fashion Manufacturing Fund will aid manufacturers nationwide, focusing on modernisation, workforce training, innovation and long-term industry resilience.
These programs build on the success of the CFDA’s Fashion Manufacturing Initiative (FMI), launched in 2013 in affiliation with the New York City Economic Development Corporation (NYCEDC), Andrew Rosen, and with the long-term support of Ralph Lauren, among others. To date, Ralph Lauren has contributed $2 million as FMI’s Premier Underwriter, enabling grants to 54 factories and positively impacting more than 2,000 jobs.
“Strengthening American manufacturing to ensure designers have local partners has long been at the core of CFDA’s mission,” said Steven Kolb, CEO and President of the CFDA. “We are proud to extend our decade-plus work with Ralph Lauren Corporation and expand to a national level while also continuing our local NYC investments alongside our first-ever partnership with the New York State Department of State.”
Together, these new grant programs mark a landmark commitment: sustaining New York’s Garment District while bolstering U.S. manufacturing nationwide — ensuring that American fashion continues to lead globally through innovation, craftsmanship and community.
“Our expanded partnership with the CFDA reflects Ralph Lauren’s enduring commitment to advancing innovation and supporting American fashion,” said Katie Ioanilli, Chief Global Impact & Communications Officer, Ralph Lauren Corporation. “This is not only an investment in our industry — it’s an investment in a vital part of American culture that we share with the world.”
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
H&M India unveils official Lollapalooza India 2026 collection
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