HanesBrands buys rival university-focused appare - sportstextiles: Lea SportsTextiles

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HanesBrands buys rival university-focused apparel company

26/02/2015
US-based apparel group HanesBrands has acquired Knights Apparel, a seller of university apparel representing 400 of the country’s largest colleges and universities.

Hanes’ Gear for Sports division sells into the same category, with clothing made in company-owned production facilities.

Hanes is purchasing Knights, which is forecast to have sales of approximately $180 million for the full-year 2015, from affiliates of Merit Capital Partners for $200 million.

Hanesbrands CEO Richard Noll said: “Combining the two companies is a great way to create value.”
Hanes expects the combined companies to deliver than $450 million in annual sales.

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