Gildan Activewear is buying the struggling HanesBrands for $2.2 billion in a deal that gives the basic apparel maker access to household name brands like Hanes and Maidenform. The companies put the transaction’s valued at about $4.

Canada-based Gildan Activewear will purchase HanesBrands in a $2.2 billion deal that will transfer ownership of popular name brands like Hanes and Maidenform.

The transaction, subject to shareholder and regulatory approvals, is expected to close between late 2025 and early 2026.