Hanesbrands Inc. Completes Acquisition of Pacific Brands Limited

Back in April, we reported that Hanesbrands Inc., Winston-Salem, N.C., acquired Pacific Brands Limited, an Australian underwear company. Today, HanesBrands Inc. announced that it has completed the acquisition of Pacific Brands Limited.

Hanesbrands Inc. acquired Pacific Brands for approximately $800 million. Pacific Brands consists of three business divisions: underwear, Sheridan, Tontine and Dunlop Flooring. Annual sales for Pacific Brands' core underwear and Sheridan divisions are valued at approximately $600 million. Hanesbrands Inc. plans to divest the Tontine pillow and Dunlop Flooring businesses.