News & Trends

Gildan to Acquire American Apparel

Published

7 years ago

November 14, 2016

Screen Printing Screen Printing November 2016 Issue

Gildan Activewear has reached an asset purchase agreement with American Apparel. The $66-million deal, which is expected to close during the first quarter of 2017, comprises American Apparel’s intellectual property rights as well as certain assets. Gildan says it will also separately purchase inventory to streamline the transition.

A release from Gildan also reports that American Apparel has voluntarily filed for Chapter 11 bankruptcy protection. If the bankruptcy court requires the company to hold an auction for its assets, the proposed acquisition will represent the initial bid.

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