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Gildan Activewear (GIL) investor relations material
Gildan Activewear M&A Announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.M&A Announcement summary13 Aug, 2025
Deal rationale and strategic fit
Combination creates a global basic apparel leader with expanded scale, iconic innerwear brands, and enhanced product diversification and resiliency.
Merged entity leverages complementary strengths: low-cost, vertically integrated manufacturing, strong brand presence in innerwear and activewear, and enhanced go-to-market and retail capabilities.
Broader product portfolio and balanced channel exposure reduce customer concentration and seasonal risk.
Strategic focus on expanding activewear presence in retail and leveraging retail reach for both brands.
Headquarters to remain in Montréal with a strong presence in Winston-Salem; Australia business under strategic review.
Financial terms and conditions
Total enterprise value of $4.4 billion; HanesBrands shareholders receive 0.102 Gildan shares and $0.80 in cash per HanesBrands share, implying a $6.00 per share value and a 24% premium.
Consideration is approximately 87% stock and 13% cash; HanesBrands shareholders will own ~19.9% of Gildan post-closing.
Acquisition multiple is 8.9x LTM adjusted EBITDA, or 6.3x including $200 million in expected run-rate synergies.
$2.3 billion in committed financing secured; Gildan will refinance HanesBrands' $2 billion in debt.
Share repurchases paused until leverage returns to target range; investment grade ratings expected.
Synergies and expected cost savings
At least $200 million in annual run-rate cost synergies expected within three years: $50 million in 2026, $100 million in 2027, $50 million in 2028.
Synergies to be realized across supply chain, operations, SG&A, logistics, IT, and leveraging retail expertise.
One-time costs to capture synergies estimated at $200 million.
No material synergies expected from the Australia business, which is under strategic review.
Pro forma adjusted EBITDA for the combined business would have been $1.6 billion for the trailing twelve months ended June 29, 2025.
What strategic alternatives for HanesBrands Australia?
When will Gildan pause share repurchases?
What are the assumptions for 2026-2028 outlook?
How will Gildan leverage Hanes' retail expertise?
Detail HanesBrands Australia strategic review.
Explain Hanes' growth in basics business.
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Next Gildan Activewear earnings date
Q3 202530 Oct, 2025
Next Gildan Activewear earnings date
Q3 202530 Oct, 2025
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Frequently asked questions
Gildan Activewear Inc., together with its subsidiaries, manufactures and sells various branded activewear products primarily in the United States, Canada, the Caribbean, Latin America, Europe, Australia, and Asia. The company offers T-shirts sold under the Gildan Gildan Performance Gildan Hammer Comfort Colors American Apparel Anvil by Gildan Alstyle Prim + Preux GoldToe; fleece tops and bottoms sold under the GoldToe Gold Toe; and sport shirts under the Gildan Gildan ActiveLife American Apparel Anvil by Gildan Skyline Sportswear It's A Breeze brands. It also provides bags and related accessories sold under the American Apparel Anvil Fastback Tote It's A Breeze Samsonite Black Label Stackables Tribe Brands names. In addition, the company offers fabric in a range of weight and product qualities, including lightweight performance fabric used to make performance shirts. As of November 30, 2017, it operated 59 manufacturing facilities located in Central America, South America, North America, Europe, Asia Pacific, Africa/Middle East, and others. The company was founded in 1983 and is headquartered in Montreal, Canada.
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