Canada-based sportswear company Gildan Activewear has completed its acquisition of US-based sportswear manufacturer Anvil Holdings for approximately $88 million.

Anvil president and CEO Anthony Corsano will become a member of Gildan's senior management team as part of its branded apparel unit.

Gildan says the buyout should immediately add to its earnings and add an estimated 20 cents per share in fiscal 2014.

Gildan has 30,000 employees worldwide, with large-scale manufacturing facilities in Central America and the Caribbean Basin. It is currently developing a manufacturing hub in Bangladesh to boost growth in Asia and Europe.

Share this story: