Hanesbrands Completes $583 Million Purchase of Maidenform

Maidenform Comfort Devotion Extra Coverage Bra

Maidenform Comfort Devotion Extra Coverage Bra

Winston-Salem, NC—Hanesbrands Inc. said today that it had completed its purchase of Maidenform Brands Inc. for $583 million, an acquisition that is expected to add growth and cost-savings.

Maidenform will greatly add to Hanesbrands’ intimate apparel brands that include Playtex, Bali, Barely There and Wonderbra. Among Maidenform brands are Maidenform, Flexees, Lilyette, Self Expressions and Sweet Nothings.

“Maidenform is a great company with strong brands and a rich tradition of innovation in intimate apparel,” Richard Noll, Hanesbrands chairman and CEO, said. “The Maidenform business and brands are a perfect addition and complement to our core business and brands. This is an excellent use of our strong free cash flow to create value.”

The acquisition is expected to create growth and cost saving opportunities and increased scale to serve retailers, the company said.

Hanesbrands funded the acquisition with cash on hand and short-term borrowings on its revolving credit facility, which will be retired through free cash flow.

Noll has said plans to integrating the two companies are moving forward and the company’s goal is to release those plans by November.

 

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Jeff Prine, Editor at Large, Accessories Magazine
Jeff returns as a regular contributor to Accessories magazine. Initially Jeff worked as senior editor at Accessories more than 20 years ago and his love of the industry has followed him until present. Since his tenure here, Jeff has continued to report jewelry, watch and other luxury goods trends as executive editor at Modern Jeweler magazine, fashion director at Lustre, and as contributor on products and trends for consumer and trade publications and websites. In addition to his editorial experience, Jeff also served as an adjunct instructor for accessories merchandising at Fashion Institute of Technology. jeffp@busjour.com