Gildan Activewear, a leading supplier of quality branded basic family apparel, has signed an agreement to acquire 100% of the equity interest of Peds Legwear for a total of US$ 55 million. The acquisition is expected to close before the end of August 2016.

“The Peds brand comes with a strong heritage, particularly in the ladies category, and is a good complementary addition to Gildan’s growing portfolio of brands,” commented Glenn Chamandy, President and CEO of Gildan.

Revenue growth opportunities

The acquisition is expected to create revenue growth opportunities by leveraging Gildan's existing customer relationships to broaden the channels of distribution for the Peds and MediPeds brands and by extending these brands into Gildan’s other product categories.

In addition, Peds current distribution into the footwear channel provides broader access in this channel for Gildan’s brands and product portfolio, the company reports.

Quality foot apparel and legwear

Peds is a marketer of quality foot apparel and legwear products, including ladies’ no-show liners, socks and sheer, and therapeutic hosiery sold mainly under the Peds and MediPeds brands to US and Canadian retailers.

The company currently generates annual sales of approximately US$ 80 million supported by sourced production and a company-owned state-of-the-art manufacturing and distribution facility in Hildebran, NC.

“This company was originally founded 80 years ago in Quebec and we are proud to have successfully built Peds and MediPeds into such strong brands,” said Michael Penner, CEO, Peds Legwear. “Gildan has had great success over the years building its manufacturing leadership and strong portfolio of brands and we feel it is well positioned to take the Peds brands to new heights.”

Gildan

Gildan is a leading supplier of quality branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The company sells its products under a diversified portfolio of company owned brands, including the Gildan, Gold Toe and Anvil brands and brand extensions, as well as the recently acquired Secret, Silks and Therapy Plus brands.

The company distributes its products in printwear markets in the US and Canada, as well as in Europe, Asia Pacific and Latin America. It also markets its products to a broad spectrum of retailers in the US and Canada.

Gildan owns and operates vertically-integrated, large-scale manufacturing facilities which are primarily located in Central America and the Caribbean Basin to efficiently service the replenishment needs of its customers in the printwear and retail markets.

www.gildan.com