Home / Knowledge / News / Fashion / Gildan acquires Peds for $55 million
Gildan acquires Peds for $55 million
28
Jul '16
Montreal-based family apparel marketer Gildan Activewear Inc. announced it was acquiring 100% equity shares of Peds Legwear Inc. (Peds) a popular ladies foot apparel and legwear brand, for $ 55 million.

“The acquisition is subject to customary closing conditions and is expected to close before the end of August 2016,” Gildan said in a press release.

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 U.S. and Canadian retailers. The company currently generates annual sales of almost $80 million supported by sourced production and a company-owned state-of-the-art manufacturing and distribution facility in Hildebran, North Carolina.

“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,” said Glenn Chamandy, President and CEO of Gildan.

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, the company statement said.

In addition, Peds' current distribution into the footwear channel provides broader access in this channel for Gildan's brands and product portfolio. “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, Chief Executive Officer, 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 is a leading manufacturer and marketer 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, such as Gildan, Gold Toe, Anvil Comfort Colors, Alstyle, Secret, Silks, Kushyfoot, Secret Silky and Therapy Plus brand. It has large-scale manufacturing facilities, which are primarily located in Central America, the Caribbean Basin, North America and Bangladesh. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

July 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

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

Yes No

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

Yes No

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


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



X