Home / Knowledge / News / Apparel/Garments / HanesBrands completes acquisition of Knights Apparel
HanesBrands completes acquisition of Knights Apparel
10
Apr '15
Global marketer of everyday basic apparel HanesBrands said it has completed the acquisition of Knights Apparel, a leading seller of licensed collegiate logo apparel in the mass retail channel.

Knights Apparel sells T-shirts, sweatshirts and other sports apparel with college logos and graphics primarily to mass merchant retailers.

Knights markets apparel representing 400 of the largest U.S. colleges and universities, while Hanes’ Gear for Sports division and is currently a seller of licensed collegiate apparel in university bookstores.

“In an all cash transaction, HanesBrands acquired Knights from Merit Capital Partners valuing Knights at approximately $200 million on an enterprise basis,” it said in a press release.

CEO Richard Noll said, “The acquisition of Knights Apparel is an excellent value-creating opportunity for our growing Activewear segment and our shareholders.”

“The integration of Knights Apparel will help us take advantage of 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,” he added.

With the addition of Knights, Hanes expects annualised sales of licensed and graphic apparel of more than $450 million with significant growth potential for college licensed brands.

Hanes funded the acquisition with cash on hand and short-term borrowings on its revolving credit facility.

Goldman, Sachs & Co. served as exclusive financial advisor to Hanes, while King & Spalding LLP served as legal counsel to Hanes.

HanesBrands markets some of apparel brands which include Hanes, Champion, Playtex, DIM, Bali, Maidenform, Flexees, JMS/Just My Size, Wonderbra, Nur Die/Nur Der, Lovable and Gear for Sports.

The company sells t-shirts, bras, panties, shapewear, men’s underwear, children’s underwear, socks, hosiery, and activewear produced in the company’s low-cost global supply chain.

Ranked No. 530 on the Fortune 1000 list, Hanes has approximately 59,500 employees in more than 35 countries and takes pride in its strong reputation for ethical business practices.

Hanes is a U.S. Environmental Protection Agency Energy Star 2014, 2013 and 2012 Sustained Excellence Award winner and 2011 and 2010 Partner of the Year award winner. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Urs Stalder
Sanitized AG

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search