Gildan finalizes divestment of HanesBrands Australia

Canadian apparel manufacturer Gildan Activewear Inc. (Gildan) has completed the sale of HanesBrands Australia (HAA) to Singapore-based entity BBFIT Investments Pte Ltd, an associated entity of Australian private investment firm BB Retail Capital.

The cash transaction closed at approximately 700 million Australian dollars (492 million dollars), which corresponds to approximately 490 million dollars paid at closing. HAA had been classified as held for sale and reported as discontinued operations in the financial statements of Gildan since the fourth quarter of 2025.

Gildan president and CEO Glenn J. Chamandy commented: “The completion of this transaction represents another important step in the execution of our ongoing integration plan. 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.”

Gildan plans to allocate the net proceeds from the divestment toward paying down outstanding debt.

Chamandy noted that the business will continue streamlining its core portfolio while strengthening its balance sheet through proceeds directed to debt retirement.