HanesBrands, a leading marketer of everyday basic innerwear and activewear, has completed the acquisition of Champion Europe, a trademark for the Champion brand in Europe, Middle East and Africa, which sells athletic apparel to retailers and retail stores.
“We now have a powerful global platform to drive Champion brand growth on every continent using our Innovate-to-Elevate strategy and low-cost, large-scale supply chain,” said Hanes Chief Operating Officer and CEO-Elect Gerald W. Evans Jr.
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Hanes acquired the privately held Champion Europe, based in Italy, in an all-cash transaction and expects the final purchase price to be approximately Euro 200 million. Champion Europe expects calendar 2016 net sales of more than Euro 190 million and an operating profit of approximately Euro 15 million.
“Champion is a great global brand that appeals to consumers worldwide and has great expansion and growth opportunities,” said Sauro Mambrini, CEO, Champion Europe, adding that in Europe, the company capitalizes on the Champion heritage from the United States combined with the natural affinity for Italian apparel design.
HanesBrands markets brands such as Hanes, Champion, Playtex, Wonderbra, Lovable, Gear for Sports and more.
