Gildan completes $490 million HanesBrands Australia sale

• Gildan Activewear completed the sale of HanesBrands Australia to BBFIT Investments for approximately A$700 million, equivalent to US$490 million, with the consideration paid in cash at closing.
• Gildan intends to use the net proceeds to repay outstanding debt, supporting its ongoing integration strategy and efforts to strengthen its balance sheet.
• HanesBrands Australia had been classified as held for sale and reported as discontinued operations since the fourth quarter of 2025, while BBFIT Investments is associated with global private investment firm BB Retail Capital.

Gildan Activewear (NYSE:GIL) announced on October 26, 2026, that it completed the sale of HanesBrands Australia to BBFIT Investments Pte Ltd for approximately A$700 million, equivalent to US$490 million, paid entirely in cash at closing.

The buyer is an associated entity of BB Retail Capital, a global private investment firm, while the transaction completes a divestiture Gildan originally announced in July 2026.

“The completion of this transaction represents another important step in the execution of our ongoing integration plan,” said Gildan President and Chief Executive Officer Glenn J. Chamandy.

Gildan intends to use the transaction's net proceeds to repay outstanding debt, consistent with its efforts to strengthen its balance sheet following the acquisition of HanesBrands in December 2025.

The company previously indicated that proceeds from the divestiture would help accelerate progress toward its target leverage range of 1.5 to 2.5 times net debt to trailing twelve-month pro forma adjusted EBITDA.

HanesBrands Australia had been classified as held for sale and accounted for as discontinued operations since the fourth quarter of 2025, meaning its financial results were presented separately from Gildan's continuing operations.

Gildan said the completed transaction allows management to maintain its focus on integrating HanesBrands, capturing operational synergies and strengthening its global apparel portfolio across activewear, underwear, socks and other everyday clothing categories.