In a strategic move reshaping the apparel industry, two of its biggest names are coming together. Gildan Activewear announced its agreement to acquire HanesBrands for $2.2 billion in a deal that promises to double Gildan’s revenue.
This transformational transaction signals the emergence of a new powerhouse but also brings antitrust questions and strategic shifts as two giants unite. Breaking Down the Deal Structure According to both companies, HanesBrands shareholders will receive 87% of their compensation in
Gildan stock and 13% in cash, with the cash portion expected to be about $290 million . Financing for the deal is secured through $2.3 billion in transaction financing, including bridge and term loans. The equity package represents a 24% premium over HanesBrands’ closing price on August 11, 2025 .
Upon closing, HanesBrands investors will own nearly 19.9% of the combined entity, a new force in a highly competitive field.
What Industry Leaders Are Saying Gildan president and CEO Glenn Chamandy enthusiastically described the combination as a “historic moment.” He remarked , “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.” HanesBrands CEO Steve Bratspies pointed to the opportunity for revitalization, noting, “We have great respect for Gildan’s manufacturing strength and long track record of success…
