Canada’s Gildan completes $490 mn HanesBrands Australia sale

Gildan Activewear Inc. (“Gildan” or the “Company”) today announced it has completed the previously announced sale of HanesBrands Australia (“HAA”) to BBFIT Investments Pte Ltd, an associated entity of BB Retail Capital, a global private investment firm, for approximately $700 million Australian dollars (~$492.0 million) (approximately $490 million US dollars), paid in cash at closing. HAA has been classified as held for sale and reported as discontinued operations in Gildan’s financial statements since the fourth quarter of 2025. Gildan intends to use the net proceeds from the transaction to repay outstanding debt.

“The completion of this transaction represents another important step in the execution of our ongoing integration plan,” said Glenn J. Chamandy, Gildan’s President and CEO. “We remain focused on executing our integration priorities, capturing synergies and leveraging the strength of our brands. We thank the HAA team for its dedication and valuable contributions to the business and wish the entire team continued success under its new ownership.”

Canada’s Gildan Activewear has completed the sale of HanesBrands Australia to BBFIT Investments for approximately Au$700 million ($490 million) in cash.
The company plans to use the net proceeds to repay outstanding debt.
The divestment supports Gildan’s ongoing integration strategy, with a focus on operational priorities, capturing synergies and strengthening its portfolio of brands.

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Fibre2Fashion News Desk (MS)