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Gildan Activewear, Montreal, recently announced that it has signed a definitive agreement to acquire substantially all of the assets of Comfort Colors, the Northfield, Vermont-based supplier of garment-dyed undecorated basic T-shirts and sweatshirts for the North American printwear market, for a total purchase price of approximately U.S. $100 million. The purchase consideration will be paid in cash and will be financed out of Gildan's bank credit facility. The acquisition is subject to customary closing conditions and is expected to close by the end of the current calendar quarter.
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