Montreal – Gildan Activewear has completed its US$55 million acquisition of Peds Legwear.
Peds is a Montreal-based marketer of high-end socks and legwear products, including ladies no-show liners, socks and sheer, and therapeutic hosiery sold mainly under the Peds and MediPeds brands to US and Canadian retailers. The company currently generates annual sales of approximately US$80 million supported by sourced production and a company-owned manufacturing and distribution facility in Hildebran, North Carolina.
The acquisition is expected to create revenue growth opportunities by leveraging Gildan's existing customer relationships to broaden the channels of distribution for the Peds and MediPeds brands and by extending these brands into Gildan’s other product categories. In addition, Peds current distribution into the footwear channel provides broader access in this channel for Gildan’s brands and product portfolio.