The business to be spun off as Hanesbrands Inc is a consumer goods company with a portfolio of leading apparel brands, including Hanes, Champion, Playtex, Bali, Just My Size, barely there and Wonderbra that hold either the No 1 or No 2 US market position by sales in most categories in which it competes.
The enterprise designs, manufactures, sources and sells a broad range of apparel essentials products such as T-shirts, bras, panties, men's underwear, kids' underwear, socks, hosiery, casualwear and activewear. In fiscal 2005, this business generated $4.7 billion in net sales.
"When the spin-off is executed, Hanesbrands Inc shareholders will be in the uncommon position of owning stock in a new company that markets strong, well-known brands and is led by a management team with a successful track record. That's a powerful combination," added Barnes.
Sara Lee Corporation is a Chicago-based global manufacturer and marketer of high-quality, brand-name products for consumers throughout the world.
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