(Filed Under wholesale Hosiery News). Montreal-based Gildan Activewear announced at the end of July it signed a “definitive agreement to acquire 100% of the equity interest of Peds Legwear Inc. (Peds) for a total cash consideration of $55 million.”
Peds markets “foot apparel and legwear products, including ladies no-show liners, socks and sheer, and therapeutic hosiery sold mainly under the Peds and MediPeds brands to U.S. and Canadian retailers,” according to Gildan. It stated annual sales of the firms are “approximately $80 million supported by sourced production and a company-owned state-of-the-art manufacturing and distribution facility in Hildebran, North Carolina.”
Peds was founded 80 years ago in Quebec, according to the firm, and the deal is expected to close before the end of August.
Gildan describes itself as a manufacturer and marketer of “basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery, and shapewear. Company-owned brands, include Gold Toe, Alstyle and Kushyfoot. The company has a license in the U.S. for Under Armour socks and “a wide array of products is also marketed through a global license for the Mossy Oak brand.”
Gildan “distributes its products in printwear markets in the U.S., Canada, Europe, Asia-Pacific and Latin America,” and “sells its products to a broad spectrum of retailers primarily in the U.S. and Canada” as well doing private label production for “global athletic and lifestyle consumer brands. Gildan owns and operates vertically-integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean Basin, North America and Bangladesh.” In total it claims over 47,000 employees worldwide.
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