Gildan Activewear, a Canada-based apparel manufacturer known for its vertically integrated platform, announced that it has entered into a definitive agreement to acquire HanesBrands, the U.S. innerwear company. The deal reflects an equity value of approximately $2.2 billion and an enterprise value of $4.4 billion for HanesBrands, based on Gildan’s stock closing price on August 11, 2025. Glenn J. Chamandy, President and CEO of Gildan, called the announcement “a historic moment in Gildan’s journey as we look to join forces with HanesBrands.” He added that the combination would double Gildan’s revenues, strengthen the presence of the heritage Hanes brand in activewear, and expand retail reach across its portfolio of labels. Chamandy also highlighted the role of Gildan’s low-cost, vertically integrated operations in creating efficiencies and supporting innovation.
HanesBrands CEO Steve Bratspies described the merger as “a powerful alignment of HanesBrands’ and Gildan’s shared commitment to quality, innovation, and excellence.” He expressed appreciation for HanesBrands’ employees, noting their role in building the company into an iconic name, and welcomed the continuation of its strong presence in Winston-Salem. Michael Kneeland, Chair of Gildan’s Board, added, “By joining forces with HanesBrands, we are forging an exceptional organization built on the strengths of both companies.” The merger is expected to enhance value for customers and shareholders while positioning the combined business for long-term growth.
