Gildan Completes the Acquisition of HanesBrands
Rhea-AI Summary
Gildan (NYSE: GIL) completed its acquisition of HanesBrands on December 1, 2025, creating a global apparel leader by combining activewear and innerwear portfolios.
The combined company says it doubles Gildan's scale, merges iconic brands with a low-cost vertically integrated platform, and targets at least $200 million in run-rate cost synergies announced on August 13, 2025.
Management cites integration execution as the immediate priority to capture the stated synergies and deliver long-term shareholder value.
Positive
- Acquisition closed on December 1, 2025
- Company targets $200 million in run-rate cost synergies
- Combines activewear and innerwear to double scale
Negative
- None.
News Market Reaction
On the day this news was published, GIL gained 3.19%, reflecting a moderate positive market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $268M to the company's valuation, bringing the market cap to $8.68B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
GIL was up 1.21% pre-acquisition news, while peers were mixed: VFC +3.18%, PVH +1.24%, but LEVI -0.32%, KTB -0.53%, and COLM +2.43%, suggesting a stock-specific catalyst rather than a broad sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 01 | Acquisition close | Positive | +3.2% | Completion of HanesBrands acquisition and targeted cost synergies. |
| Oct 29 | Earnings and guidance | Positive | -1.7% | Record Q3 revenue and EPS with updated 2025 guidance. |
| Oct 16 | Brand marketing event | Neutral | +0.3% | Comfort Colors 50th anniversary activation and brand promotion. |
| Oct 15 | Earnings date notice | Neutral | -0.5% | Scheduling details for Q3 2025 earnings release and call. |
| Sep 23 | Debt financing | Neutral | -0.9% | Pricing of US$1.2B senior unsecured notes for acquisition funding. |
Recent major strategic and financing announcements have seen mixed price reactions, with strong fundamental updates not always translating into immediate gains.
This announcement completes Gildan’s acquisition of HanesBrands, following earlier communication that the deal would close in late 2025 or early 2026. In October 2025, Gildan reported record Q3 net sales of $911 million and record adjusted diluted EPS of $1.00, alongside updated full‑year guidance. The company also priced US$1.2 billion in senior unsecured notes to fund the cash portion of the HanesBrands transaction and refinance existing debt. Brand-level marketing initiatives and routine earnings date announcements rounded out the news flow ahead of this closing.
Market Pulse Summary
This announcement confirms the closing of Gildan’s acquisition of HanesBrands, creating a larger apparel platform with targeted run‑rate cost synergies of at least $200 million. It follows record Q3 results, updated full‑year guidance, and prior debt financing to fund the transaction. Key factors to watch include integration progress, realization of stated synergies, updates to profitability and cash flow metrics, and any changes in capital allocation priorities as the combined business scales.
Key Terms
run-rate cost synergies financial
AI-generated analysis. Not financial advice.
(all amounts are in U.S. dollars except where otherwise indicated)
MONTREAL, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or the “Company”) announced today that it has completed the previously announced acquisition of HanesBrands Inc. (“HanesBrands”), creating a global apparel leader.
“Today marks the beginning of an exciting new chapter. By welcoming HanesBrands into the Gildan family, we are doubling our scale, combining iconic brands with our world-class, low-cost, vertically integrated platform, and unlocking a powerful engine for innovation and growth. Together, our complementary strengths in activewear and innerwear, across channels and geographies, position us to better serve our customers and deliver sustainable, long-term value for our shareholders”, said Glenn J. Chamandy, President and Chief Executive Officer of Gildan. “Our priority now is to execute a seamless, collaborative integration that enables us to fully capture the value of our expanded platform and deliver at least
About Gildan
Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO™, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S. and Canada.
Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Asia. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in Gildan's long-term business strategy. More information about Gildan and its ESG practices and initiatives can be found at www.gildancorp.com.
Forward-looking statements and information
Certain statements included in this press release constitute “forward-looking statements” and “forward-looking information” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations, and are subject to important risks, uncertainties, and assumptions. These forward-looking statements include, amongst others, information with respect to the acquisition of HanesBrands and the anticipated benefits of the transaction, including the expected run-rate cost synergies. Forward-looking statements are subject to inherent risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results or events could differ materially from our expectations. These statements are not guarantees of future performance or events, and we caution you against relying on any of these forward-looking statements. We refer you to the Gildan’s public filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission (the “SEC”), as well as the risks described under the “Financial risk management”, “Critical accounting estimates and judgments”, and “Risks and uncertainties” sections of our most recent management’s discussion and analysis for a discussion of the various factors that may affect Gildan’s future results. Material factors, which could cause actual results or events to differ materially from a conclusion, forecast, or projection in such forward-looking statements, include, but are not limited to, those discussed and identified in public filings made by Gildan with the Canadian securities regulatory authorities and the SEC, the realization of anticipated benefits and synergies of the transaction and the timing and quantum thereof and the success of integration plans and the time required to successfully integrate the combined business. These factors may cause Gildan’s actual performance and financial results in future periods to differ materially from any estimates or projections expressed or implied in this press release. There can be no assurance that the expectations represented by our forward-looking statements will prove to be correct. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as of December 1, 2025, and we do not undertake any obligation to update publicly or to revise any of the included forward-looking statement, whether as a result of new information, future events, or otherwise unless required by applicable legislation or regulation. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
| Gildan Investor inquiries: Jessy Hayem, CFA Senior Vice-President, Head of Investor Relations and Global Communications (514) 744-8511 jhayem@gildan.com | Gildan Media inquiries: Genevieve Gosselin Director, Global Communications and Corporate Marketing (514) 343-8814 communications@gildan.com |
FAQ
When did Gildan (GIL) complete the acquisition of HanesBrands?
How much in run-rate cost synergies did Gildan (GIL) announce for the HanesBrands deal?
What does the HanesBrands acquisition mean for Gildan (GIL) scale and product mix?
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When was the $200 million synergies target for the HanesBrands deal announced by Gildan (GIL)?
