Business
2:01 pm
Mon October 7, 2013

HanesBrands Finalizes Acquisition of Maidenform Brands

Winston-Salem-based HanesBrands announced this morning that it has completed its acquisition of Maidenform Brands, Inc. for approximately $583 million in cash.

HanesBrands is a marketer of basic apparel under such brands as Hanes, Champion, Playtex, Bali, JMS/Just My Size, barely there, Wonderbra and Gear for Sports. The company's international brands include Zorba, Sol y Oro, Rinbros, Track N Field and Ritmo.

Maidenform is a seller of bras, shapewear and intimate apparel, marketing brands such as Maidenform, Flexees, Lilyette, Self Expressions, and Sweet Nothings. Under license, the company has Donna Karan and DKNY  intimate apparel.

Hanes Chairman and Chief Executive Officer Richard Noll said in a statement released Monday, "Maidenform is a great company with strong brands and a rich tradition of innovation in intimate apparel.  The Maidenform business and brands are a perfect addition and complement Hanes' Innovate-to-Elevate strategy, which integrates the company's world-class brands."

Hanes has a distribution center in Rural Hall, and the New Jersey-based Maidenform maintains a distribution center in the Fayetteville area.