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Wednesday, June 25, 2014

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

Underwear maker Hanesbrands Inc said it will purchase former sister company DBApparel in a deal valuing the company at 400 million euros ($545 million) on an enterprise basis.Hanes and DBApparel were both owned by Sara Lee Corp until 2006, when private equity firm Sun Capital Partner Inc bought the Paris-based company.DBApparel retained the rights to sell the Wonderbra and Playtex brands in Europe. HanesBrands holds the rights for the Americas and Asia.Hanesbrands said the deal is expected to add more than $875 million in annual net sales and about $125 million in adjusted operating profit within three or four years of closing.

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.