Gildan Activewear is reportedly nearing a deal to acquire HanesBrands, a takeover that could valued at around $5 billion including debt, according to an announcement shared by Financial Times (FT) on Aug. 12, 2025. The publication reports that it got its information from those familiar with the matter. At the time of the announcement and the time of writing this article, Gildan and HanesBrands have not responded to Apparelist for requests for comments.

Reports of the deal come as Gildan listed record net sales in the second quarter of 2025. HanesBrands also announced better-than-expected Q2 results for 2025. Despite that, multiple reports note that the company has struggled with slowing sales and inventory issues at its retail partners. According to the FT article, shares of the firm are down 40% so far in 2025, and HanesBrands had a market value of $1.7 billion at Monday’s close. Its debt pile totaled roughly $2.5 billion as of June 2025.

Both companies have faced their share of headlines in recent years. Notably was the very public battle between CEO Glenn Chamandy and Gildan’s former board. After Chamandy was ousted as CEO at the end of 2023, the two parties engaged in a months-long battle that led to his reinstatement and the former 12-person board to resign.

HanesBrands has also made several headlines over the past few years. At the end of 2025, former CEO Steve Bratspies announced his departure of the company. The brand also sold the popular Champion brand to Authentic Brands Group in 2024.

Multiple news outlets share that a decision could be made as early as the end of this week; however, there is no confirmation that a deal will be finalized at all.

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