Back in April, we reported that Hanesbrands Inc., Winston-Salem, N.C., acquired Pacific Brands Limited, an Australian underwear company. Today, HanesBrands Inc. announced that it has completed the acquisition of Pacific Brands Limited.
Hanesbrands Inc. acquired Pacific Brands for approximately $800 million. Pacific Brands consists of three business divisions: underwear, Sheridan, Tontine and Dunlop Flooring. Annual sales for Pacific Brands' core underwear and Sheridan divisions are valued at approximately $600 million. Hanesbrands Inc. plans to divest the Tontine pillow and Dunlop Flooring businesses.
Hannah Abrams is the senior content editor for Promo Marketing. In her free time, she enjoys coming up with excuses to avoid exercise, visiting her hometown in Los Angeles and rallying for Leonardo DiCaprio to win his first second Academy Award.