Gildan Activewear acquires Hanesbrands in a $2.2B deal, aiming for $200M annual synergies. Read here for more details on the acquisition rationale.

The transaction, subject to shareholder and regulatory approvals, is expected to close between late 2025 and early 2026.

Gildan Activewear is buying the struggling HanesBrands for $2.2 billion in a deal that gives the basic apparel maker access to household name brands like Hanes and Maidenform. The companies put the transaction’s valued at about $4.