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Gildan Activewear Inc. has signed a definitive agreement to acquire 100% of the equity interest of Peds Legwear Inc. (Peds), a private Canadian company with a North Carolina manufacturing and distribution centre that opened last year for a total cash consideration of $55 million.
The acquisition is expected to create revenue growth opportunities by leveraging Gildan’s existing customer relationships to broaden the channels of distribution for the Peds and MediPeds brands and by extending these brands into Gildan’s other product categories.
