CND – The textile producer Gildan Activewear announced on July 27, 2016 that it is taking over the company Peds Legwear Inc., which is also based in Montreal, for 55 mil. US Dollars (approx. 49 mil. Euros). The two parties aim to have concluded the acquisition by the end of August. According to own accounts, Gildan aims to extend its sales channels, strengthen customer relations and increase its overall turnover with the sock brands Peds and Medipeds.
Gildan already acquired the US activewear manufacturer Alstyle Apparel from its parent company, Ennis Inc. in May 2016 for a purchase price of 110 mil. US Dollars (approx. 96 mil. Euros). Taking the two acquisitions as well as further factors into account, the textile producer is expecting to achieve an annual turnover of 2.65 bil. US Dollars (approx. 2.37 bil. Euros) in 2016.