Gildan Activewear has won the Auction in Bankruptcy Process to acquire American Apparel brand in Montreal. “We are excited to be moving forward with this acquisition. The American Apparel brand will be a strong complementary addition to our growing brand portfolio. We see strong potential to grow American Apparel sales by leveraging our extensive printwear distribution networks in North America and internationally to drive further market share penetration in the fashion basics segment of these markets,” said Glenn Chamandy, President and CEO of Gildan.
The company’s final cash bid of approximately US $ 88 million includes the acquisition of the worldwide intellectual property rights related to the American Apparel brand and certain manufacturing equipment. Gildan will also separately procure inventory from the apparel brand to ensure a seamless supply of goods to the printwear channel.
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Gildan is a leading manufacturer and marketer of quality branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery, and shapewear. It sells its products under a diversified portfolio of company-owned brands, including Gildan, Gold Toe, Anvil, Comfort Colors, Alstyle, Secret, Silks, Kushyfoot, Secret Silky, Peds, MediPeds and Therapy Plus brands.
