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Gildan Nears Deal for Underwear Maker Hanesbrands

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By Crystal Tse, Paula Sambo, and Mathieu Dion

August 12, 2025 at 6:32 AM UTC

Updated on

August 12, 2025 at 5:19 PM UTC

Gildan Activewear Inc. is in advanced talks to buy US underwear maker Hanesbrands Inc., people familiar with the matter said, in what would be its largest ever acquisition.

Canada-based Gildan is considering a cash and stock offer for Hanesbrands that would be equivalent to roughly $6 a share, the people said, That would value Hanesbrands at nearly $4.5 billion including debt, according to data compiled by Bloomberg.