Gildan to buy Hanesbrands for $2.2 billion to expand basic apparel business

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Gildan Activewear will acquire U.S. undergarments maker Hanesbrands for $2.2 billion in cash and stock, paying about $6 per share—a 24% premium. The deal merges Hanesbrands’ strong retail brands, including Hanes, Maidenform, and Playtex, with Gildan’s global wholesale operations. Analysts say Gildan’s low-cost manufacturing could improve efficiency. The acquisition follows years of challenges for Hanesbrands, including declining sales and heavy debt, though recent cost‑cutting improved margins, CNBC has reported. The deal is expected to close in late 2025 or early 2026 and should boost adjusted profit per share.