Hanesbrands Completes $200 Million Sportswear Acquisition
Winston-Salem-based Hanesbrands Inc. has announced a $200 million acquisition to expand its college clothing business. The deal marks an expansion of the company's college sports line.
Hanesbrands Inc. apparel in college bookstores. The new deal brings the company's clothing beyond the campus.
The company says it has closed a deal to buy Knights Apparel, a Spartanburg, SC company that also sells licensed college logo attire. But unlike Hanesbrands, Knights Apparel focuses on mass-merchant retailers, like malls and shopping centers.
The combined companies are expected to have annual sales of more than $450 million for college licensed brands, according to a release.
Knights Apparel has more than 200 employees in South Carolina. Hanesbrands has not yet discussed the future of those employees.