Home / Knowledge / News / Apparel/Garments / HanesBrands gears up to acquire Knights Apparel
HanesBrands gears up to acquire Knights Apparel
27
Feb '15
American clothing company HanesBrands is soon going to take over the collegiate logo garment specialist Knights Apparel.

With the recently announced all cash acquisition deal of worth $200 million, the North Carolina firm aims to boost the growth of its in-house licensed collegiate apparel division Gear for Sports, according to a HanesBrands press release.

Commenting on the agreement, the clothier’s chairman and chief executive officer, Richard A Noll, said, “This is an exciting acquisition opportunity to leverage our existing Gear for Sports licensed collegiate apparel business, our expertise and size in the mass retail channel, and our low-cost global supply chain.”

John T Marsh, president-global activewear-HanesBrands, said, “Knights Apparel has a tremendous business model and a highly talented team of employees. With the label added to our existing Gear for Sports collegiate bookstore business, we are building a powerful licensed college apparel business that we can leverage with our substantial capabilities in apparel production, graphic design and graphic printing.”

“HanesBrands is the perfect partner and owner for Knights Apparel. The company understands our business and will make us more valuable to our licensor and retail partners, allowing us to provide best-in-class products, brand management and service,” stated Joe Bozich, the CEO of Knights Apparel which manufactures garments representing 400 of the largest US colleges and universities.

With the addition of Knights, Hanes expects to be an even stronger growth partner for licensed and graphic apparel with more than $450 million in combined annualised sales. The combination will create a best-in-class supplier of licensed collegiate apparel that has both low-cost and quick-turn supply capability and is primarily supported by company-owned garment production and graphic embellishment facilities.

The acquisition, which is subject to antitrust review and other customary closing conditions, is expected to close early in the second-quarter of 2015. Assuming an early second-quarter close, the acquisition is expected to add to Hanes’ previously stated presplit 2015 financial guidance by approximately $160 million in net sales. Within two to three years when full synergies and benefits are realised, the purchase of Knights is expected to contribute about $0.30 of presplit annual adjusted EPS. (PB)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search