Gildan Announces Closing of Acquisition of Gold Toe Moretz
April 15 2011 - 2:03PM
Marketwired
Gildan Activewear Inc. (TSX: GIL)(NYSE: GIL) today announced that,
pursuant to the definitive agreement which it had entered into on
April 11, 2011, it has completed the acquisition of 100% of the
capital stock of Gold Toe Moretz Holdings Corp. for approximately
U.S. $350 million. The effective date of the transaction is April
15, 2011.
Profile
Gildan is a vertically-integrated marketer and manufacturer of
quality branded basic apparel. Gildan is the leading brand in the
screenprint market in the U.S. and Canada and is also establishing
a growing presence in Europe, Mexico and the Asia-Pacific region.
The Company sells T-shirts, sport shirts and fleece as undecorated
"blanks", which are subsequently decorated by screenprinters with
designs and logos. Gildan is also a leading supplier of socks sold
to mass-market and other retailers in North America, and is
increasingly becoming a significant supplier of underwear and
undecorated activewear products to this market as well. With over
28,000 employees worldwide, Gildan owns and operates highly
efficient, large-scale, environmentally and socially responsible
facilities in Central America and the Caribbean Basin and has begun
development of a manufacturing hub in Bangladesh to support its
planned growth in Asia and Europe. More information on the Company
can be found on Gildan's website at www.gildan.com.
Contacts: Investor Relations: Gildan Activewear Inc. Sophie
Argiriou Director, Investor Communications 514-343-8815
sargiriou@gildan.com Media Relations: Gildan Activewear Inc.
Genevieve Gosselin Director, Corporate Communications 514-343-8814
ggosselin@gildan.com
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