HanesBrands buying DBApparel for about $550M

SHARE HanesBrands buying DBApparel for about $550M

WINSTON-SALEM, N.C. — HanesBrands is buying DBApparel from Sun Capital Partners Inc. for about $550 million, giving the underwear and T-shirt company entry to the European market.

DBApparel is a marketer of hosiery and men’s underwear in Europe. Hanesbrands and DBApparel had both once been owned by Sara Lee Corp. In 2006, Sun Capital acquired DBApparel and HanesBrands was spun off into an independent public company.

The two companies would share worldwide rights to Playtex, Wonderbra and DIM brands.

HanesBrands Inc., based in Winston-Salem, North Carolina, said that it plans to fund the deal with available cash and third-party borrowings.

The transaction is expected to add to about 25 cents per share to HanesBrands’ adjusted earnings in 2015 and approximately $1 per share to adjusted earnings annually within three to four years.

The acquisition may close as early as the third quarter.


The Latest
Sloan was the 19th pick of the round, the 55th player selected overall.
The man, 18, was sitting in a vehicle in the 1800 block of West 88th Street about 6:05 p.m. Sunday when he was hit in the leg by gunfire, police said. He died at a hospital.
The former Stevenson High School star could have made $113 million more if he had waited to sign a contract next year.
Allen Sergio, 33, was shot in the 3800 block of South Wells Street at the Wentworth Gardens residential complex, police said.