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.

Gildan Activewear acquires Hanesbrands in a $2.2B deal, aiming for $200M annual synergies. Read here for more details on the acquisition rationale.

Gildan Activewear has entered into a definitive agreement to pay $2.2 billion for HanesBrands in a deal that places its enterprise value at $4.4 billion.