Gildan Activewear is buying Hanesbrands for $2.2 billion, combining two makers of basic apparel with the aim of selling more T-shirts, socks and underwear across the retail landscape.

Gildan Activewear has agreed to buy U.S. undergarments maker Hanesbrands for $2.2 billion in cash and stock, the companies said on Wednesday, as the Canadian firm looks to expand its foothold in ...

Canada-based Gildan Activewear will purchase HanesBrands in a $2.2 billion deal that will transfer ownership of popular name brands like Hanes and Maidenform.

Canada’s Gildan Activewear is buying HanesBrands for $2.2 billion HanesBrands’ sales have fallen for three consecutive years and it hasn’t turned an annual profit since 2021.

Shares of Gildan Activewear Inc. jumped on Tuesday following a report that the T-shirt maker had been put up for sale, marking the latest drama over the company’s leadership plans.