Gildan Completes the Acquisition of HanesBrands – The Canadian Business Journal

(all amounts are in US dollars unless otherwise noted)

MONTREAL, Dec. 01, 2025 (GLOBE NEWSWIRE) — Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or the “Company”) today announced that it has completed its previously announced acquisition of HanesBrands Inc. (“HanesBrands”), creating a global leader in apparel manufacturing.

“Today marks the beginning of an exciting new chapter. By welcoming HanesBrands into the Gildan family, we are doubling our scale by combining iconic, world-class brands with our low-cost, vertically integrated platform and unlocking a powerful engine for innovation and growth. Together, our complementary strengths in sportswear and innerwear across multiple channels and geographies enable us to better serve our customers and deliver sustainable, long-term value for our shareholders,” said Glenn J. Chamandy, President and Chief Executive Officer. executive director Gildan's officer. “Our priority now is to ensure a seamless joint integration that will allow us to fully capture the value of our expanded platform and deliver at least $200 million in operating cost synergies as announced on August 13, 2025.”

About Gildan

Gildan is a leading manufacturer of casual basic clothing. The company's product portfolio includes activewear, intimates, socks and intimates sold to a wide range of customers, including wholesale distributors, screen printing manufacturers, decorators, retailers or e-commerce platforms, and global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific and Latin America under a diversified portfolio of company-owned brands, including Gildan.^®Hanes^®Comfortable colors^®American clothes^®ALLPRO™, GOLDEN TOY^®Pediatricians^®Bali^®Playtex^®Maidenform^®Bonds^®and also Champion^® which is under an exclusive licensing agreement for the printed apparel channel in the US and Canada.

Gildan owns and operates vertically integrated large manufacturing facilities primarily located in Central America, the Caribbean, North America and Asia. Gildan operates with a strong commitment to industry-leading labor, environmental and governance practices throughout its supply chain, consistent with its comprehensive ESG program embedded in Gildan's long-term business strategy. More information about Gildan, its ESG practices and initiatives can be found at: www.gildancorp.com.

Forward-Looking Statements and Information

Certain statements included in this press release constitute “forward-looking statements” and “forward-looking information” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws and regulations and are subject to important risks, uncertainties and assumptions. These forward-looking statements include, among other things, information regarding the acquisition of HanesBrands and the expected benefits of the transaction, including expected operating cost synergies. Forward-looking statements involve inherent risks and uncertainties and are based on a number of assumptions that may cause actual results or events to differ materially from our expectations. These statements are not guarantees of future results or events, and we caution you not to rely on any forward-looking statements. We refer you to Gildan's public filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the “SEC”) and the risks described in the “Financial Risk Management,” “Critical Accounting Estimates and Judgments” and “Risks and Uncertainties” sections of our most recent management's discussion and analysis for a discussion of various factors that could affect Gildan's future results. Material factors that could cause actual results or events to differ materially from the conclusions, projections or projections in such forward-looking statements include, but are not limited to, those discussed and identified in Gildan's public filings with Canadian securities regulators and the SEC, the realization of the expected benefits and synergies of the transaction, and the timing and volume, as well as the success of integration plans and the time required to successfully integrate the combined businesses. These factors could cause Gildan's actual results of operations and financial results in future periods to differ materially from any estimates or forecasts expressed or implied in this press release. There can be no assurance that the expectations reflected in our forward-looking statements will prove to be correct. In addition, unless otherwise stated, the forward-looking statements contained in this press release are made as of December 1, 2025, and we undertake no obligation to publicly update or revise any of the forward-looking statements included, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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