Canada-based Gildan Activewear Inc. has completed the acquisition of Fort Payne-based hosiery manufacturer V.I. Prewett & Son, Inc., effective October 15. It has entered into an agreement to purchase 100% of Prewett’s capital stock for $125 million.

According to Prewett president, Bobby Cole, no immediate changes for the company, which was founded in 1953, are planned. It is said to be the largest manufacturer of private-label socks in the US, with annual sales of approximately $190 million.

Gildan is a markets and manufactures branded basic apparel and imprinted sportswear in the US, Canada and Europe.

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