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Hanesbrands Inc. Acquires Alternative Apparel

HanesBrands Inc., Winston-Salem, N.C., today announced preliminary third-quarter 2017 net sales and earnings per share, and announced the acquisition of Alternative Apparel.

“We met our goal of returning to organic growth, and we continued to generate strong operating cash flow,” said Hanes CEO Gerald W. Evans Jr.

“Our sales and EPS results, driven by stronger-than-expected international growth, are expected to be consistent with our guidance.”
Hanes has purchased privately held Alternative Apparel in an all-cash transaction valued at approximately $60 million on an enterprise basis. Alternative Apparel, based in Norcross, Ga., is expected to have full-year 2017 net sales of approximately $70 million.

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