Hanesbrands to acquire European apparel company for $550M
Hanesbrands will acquire DBApparel, a Rueil-Malmaison, France-based underwear and intimate apparel manufacturer, for about $550 million.
It's another big acquisition for the Winston-Salem-based company, which paid $583 million for Iselin, N.J.-based Maidenform Brands in October.
DBApparel's largest brand is DIM, which accounts for about half of sales. The company also markets Playtex and Wonderbra, which also are sold by Winston-Salem-based Hanesbrands.
The two companies were both owned by Chicago-based Sara Lee Corp. until 2006, when Sun Capital Partners acquired DBA and Hanebrands became an independent, publicly traded company.
"Together, we will be a nearly $6 billion company utilizing our disciplined Innovate-to-Elevate strategy and leveraging our global supply chain," said Richard Noll, Hanesbrands' chairman and CEO, in a statement.
Hanesbrands employs 49,700 globally, including more than 3,200 in North Carolina.
The transaction could close as soon as the third quarter.