CND/USA – The Canadian textile manufacturer Gildan Activewear is taking over Alstyle Apparel from its parent company Ennis Inc. The contract that was signed recently encompasses the 100 percent take-over of Alstyle Apparel. According to official accounts, the sales price was 110 mil. US Dollars (approx. 96 mil. Euros). Both parties would like to wind up the acquisition by the end of June.
Alstyle Apparel belongs to the Ennis group and produces activewear products that are primarily sold to embellishers and wholesalers in the USA, Canada and Mexico. The company maintains several production sites in Mexico. According to the official figures, the turnover recently totalled around 183 mil. US Dollars (approx. 160 mil. Euros). Selling Alstyle Apparel means that Ennis is giving up its textile division.
According to own accounts, Gildan is expecting the take-over to expand its share on the US American, Canadian and Mexican printwear markets and to particularly improve its competitiveness in Mexico. Furthermore, the company is hereby reinforcing its performance as a producer and will receive duty-free access to the South American markets with immediate effect due to the newly acquired production sites in Mexico.