HanesBrands Inc., an American branded apparel manufacturing company based in Winston-Salem, N.C., plans to acquire DB Apparel (DBA), France-based marketer of intimate apparel, hosiery and underwear in Europe to leverage its innovate-to-elevate strategy and global supply chain from Sun Capital Partners Inc., Boca Raton, Fla., for approximately $550 million.

HanesBrands maintains a substantial global network of self-owned production facilities for intimate apparel and underwear.

Hanes and DBA were formerly separate sister companies under the ownership of Sara Lee Corp. In 2006 Sun Capital acquired DBA and Hanes spun off as an independent public company. According to HanesBrands, the acquisition of DBA would give it an expanded presence including in Western and Central European countries, where it currently has no presence. The combined company would be one of the largest basic innerwear apparel companies in the world with global rights to the Playtex, Wonderbra and DIM brands.

Commenting on the acquisition, HanesBrands Chairman and CEO Richard A. Noll said that through this acquisition they will be able to reunite two great companies to create significant growth and margin-expansion opportunities. Together, they will be a nearly $6 billion company.

DBA sells its innerwear products in 16 countries, mainly in Western and Central Europe. The company operates its own manufacturing facilities and sources from third-party manufacturers. Its self-owned hosiery production facilities are located in France, Germany, Slovakia and Romania. Some 75 percent of its intimate apparel and underwear production is outsourced.

Closing of the transaction is expected as early as the third quarter 2014. The company are looking forward to welcoming the DBA team to Hanes. Together, they have the world’s best innerwear brands, the most knowledgeable employees in the industry, and the size and passion to be the best basic apparel company in the world.