HanesBrands Inc. has completed the largest purchase its history. The Winston-Salem-based business spent $800 million to buy Pacific Brands Ltd., Australia's top underwear and intimate apparel company.
The cash deal comes a few weeks after the company purchased Champion Europe for $228 million.
HanesBrands says it now has the top market share for its products in 12 leading industrial countries.
The company plans to sell off its Tontine pillows and Dunlop flooring units.
HanesBrands had announced its intention to purchase Pacific Brands last April.
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