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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 would purchase former sister company DBApparel, bringing back together two global lingerie brands and giving Hanesbrands increased access to Europe.Hopes of fast growth in the region, where DBApparel has a large market share, pushed Hanesbrands shares up 9 percent to their life-high on Wednesday.The deal, which values DBApparel at 400 million euros ($545 million) on an enterprise basis, will bring together the Wonderbra and Playtex brands.DBApparel sells these brands in Europe. Hanesbrands holds the rights for the two lingerie brands elsewhere and has other clothing brands, such as Hanes and Champion.

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 8.23% or $7.285/share to $95.82. 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 1299066.