Montreal - Gildan Activewear has swooped for yet another apparel manufacturer in a move that allow it to take advantage of preferential trade agreements that provide duty-free access to markets in South America.
The activewear giant has signed a definitive agreement to acquire 100 per cent of the equity interest of Alstyle Apparel, LLC and its subsidiaries, the apparel division of Ennis, Inc., for a total cash purchase price of US$110 million. The acquisition is subject to regulatory and customary closing conditions and is expected to close before the end of June 2016.
