New acquisition to lift Gildan’s athletic sock sales
20/09/2007
Montreal-based clothing company Gildan Activewear Inc. has signed a new acquisition agreement with
Gildan is to purchase 100% of the capital stock of the Alabama-based manufacturer at an initial purchase price of US$125 million. The transaction will involve further contingent payments of up to $10 million.
The acquisition, which is subject to US regulatory approvals, is expected to be complete by the end of October.
Annual Prewett sales are worth approximately $190 million.
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