Gildan to acquire Peds Legwear

Gildan Activewear has entered into a definitive agreement to acquire 100 percent of the equity interest of Peds Legwear for a total cash consideration of 55 million dollars. The company currently generates annual sales of approximately 80 million dollars supported by sourced production and company-owned manufacturing and distribution facility in Hildebran, North Carolina.

Peds is a marketer of quality foot apparel and legwear products, including ladies no-show liners, socks and sheer, and therapeutic hosiery sold mainly under the Peds and MediPeds brands to US and Canadian retailers.

“The Peds brand comes with a strong heritage, particularly in the ladies category, and is a good complementary addition to Gildan’s growing portfolio of brands,” said Glenn Chamandy, President and CEO of Gildan.

The acquisition is expected to create revenue growth opportunities by leveraging Gildan's existing customer relationships to broaden the channels of distribution for the Peds and MediPeds brands and by extending these brands into Gildan’s other product categories. In addition, Peds current distribution into the footwear channel provides broader access in this channel for Gildan’s brands and product portfolio.

“Gildan has had great success over the years building its manufacturing leadership and strong portfolio of brands and we feel it is well positioned to take the Peds brands to new heights,” added Michael Penner, Chief Executive Officer, Peds Legwear.

picture:peds