Home / Knowledge / News / Apparel/Garments / Hanesbrands buys TNF Group for $9 million
Hanesbrands buys TNF Group for $9 million
05
May '11
HanesBrands has expanded its global Champion activewear brand in the Eastern Hemisphere by acquiring the assets of TNF Group Pty Ltd, a major activewear supplier serving leading Australian sportswear retailers.

The acquisition of TNF, which was already selling HanesBrands' Champion activewear products in Australia and New Zealand under a license and distribution agreement, expands HanesBrands into the outerwear segment in Australia, complementing its Playtex intimate apparel and emerging Hanes basic comfort apparel businesses there.

Established in 2002, TNF Group's activewear sales last year were approximately $20 million (U.S.), including the licensed Champion sales. HanesBrands bought the TNF assets for $9 million, or less than seven times earnings before interest, taxes, depreciation and amortization.

HanesBrands' strategy for its International segment businesses, which contributed 12 percent of total company sales last year primarily in fast-growing countries in the Americas and Asia, is to focus on the core categories of basic apparel, intimate apparel, and activewear using its global brands of Hanes, Wonderbra, Playtex and Champion. With the TNF assets, the company expands its Champion activewear brand that is already established in Japan and elsewhere in Asia.

Already with strong results in the first quarter, Hanes expects its 2011 International sales growth to be in the high teens or better. Last year, International sales increased 16 percent.

“Our accelerating international growth is duplicating our success in the United States by increasing market share through strong consumer brands in core categories supported by our low-cost global supply chain,” said Hanes Chairman and Chief Executive Officer Richard A. Noll. “This model should allow us to sustain substantial International growth for years.”

The acquired TNF business sells activewear and sportswear to sports and retail stores under the Champion, Leluu, Performax, and Track N Field brands. It also sells custom sports clothing to Australian private schools, and operates three retail stores.

Approximately 60 employees, primarily in sales, service, production, administration and distribution, will join HanesBrands, and management will remain in place at offices in Scoresby, Victoria.

“We are excited to add the TNF business and team to create significant growth opportunities in Australia and New Zealand,” said Gerald Evans, co-operating officer and president of international businesses for HanesBrands. “TNF's activewear business, which had continually expanded Champion sales since the 2009 license agreement, has an outstanding management team and workforce that are the best in their category and fit well with our growth culture.”

The acquisition will not materially affect HanesBrands' 2011 guidance for total sales of $4.9 billion to $5 billion and earnings per diluted share of $2.70 to $2.90.

HanesBrands Inc


Must ReadView All

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Apparel/Garments | On 18th Aug 2017

Papua New Guinea govt to help set up garment industry

The government of Papua New Guinea (PNG) plans to focus and fund...

Courtesy: FineLine Technologies

Apparel/Garments | On 18th Aug 2017

FineLine Technologies acquires RER International

FineLine Technologies Inc., industry’s fastest supplier of retail...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Urs Stalder
Sanitized AG

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rupa Sood and Sharan Apparao
Nayaab

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.0%
No
17.2%
Skip
13.8%

Total Votes: 29

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
41.4%
No
37.9%
Skip
20.7%

Total Votes: 29

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
82.8%
No
6.9%
Skip
10.3%

Total Votes: 29

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
58.6%
No
10.3%
Skip
31.0%

Total Votes: 29


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X