HanesBrands Acquires Knights Apparel
HanesBrands says it has completed its acquisition of Knights Apparel, a maker of licensed collegiate logo apparel for mass retailers, from Merit Capital Partners. The cash transaction valued Knights Apparel at $200 million.
“We’d like to welcome Knights Apparel to the Hanes team,” said Hanesbrands CEO Richard A. Noll. “The acquisition of Knights Apparel is an excellent value-creating opportunity for our growing Activewear segment and our shareholders. We are eager to begin the integration of Knights Apparel to take advantage of our existing Gear for Sports licensed collegiate apparel business, our expertise and size in the mass retail channel, and our low-cost global supply chain.”
HanesBrands says its combined licensed and graphic apparel businesses will do sales of more than $450 million.
