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Wednesday, June 25, 2014

Hanesbrands to purchase France's DBApparel, (NYSE: HBI)

Underwear maker Hanesbrands Inc said it will purchase Paris-based DBApparel from Sun Capital Partners Inc in a deal valuing the company at 400 million euros ($545 million) on an enterprise basis. The cash deal values DBApparel at about 7.5 times EBITDA, Hanesbrands said. ($1 = 0.7345 Euros)

Hanesbrands Inc. is a consumer goods company with a portfolio of apparel brands, including Hanes, Champion, Bali, Playtex, Just My Size, L?eggs, barely there, Wonderbra, Gear for Sports, Stedman, Zorba, Rinbros, Sol y Oro, Outer Banks and Duofold. Shares of HBI traded higher by 0.39% or $0.34/share to $88.54. In the past year, the shares have traded as low as $50.50 and as high as $89.57. On average, 824322 shares of HBI exchange hands on a given day and today's volume is recorded at 619569.