HanesBrands hives off non core businesses in Australia

21 Dec '16

1 min read

Global marketer of everyday apparel and innerwear, HanesBrands has entered into definitive agreement to sell its Dunlop Flooring and Tontine pillow businesses in Australia, which came into HanesBrands through the acquisition of Pacific Brands. The divestment has been done as planned, since the business is a non core activity for the apparel marketer.

The Dunlop Flooring business will be acquired by UK based Victoria PLC for Au $25 million, who is a designer, manufacturer and distributor of floor coverings.

Dunlop Flooring, which manufactures and distributes underlay and hard flooring, had revenues of $51 million and EBITDA of $6 million for fiscal ended June 30, 2016.

John Cotton Group, a privately held international pillow and quilt manufacturer based in UK, will acquire the Tontine pillow and quilt business in an all-cash transaction for $14 million.

Tontine had revenues of $44 million and EBITDA of $2 million in fiscal ended June 30, 2016. (AR)

Fibre2Fashion News Desk – India

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