Gildan Possible Acquisition of American Apparel

Gildan Announces Possible Acquisition of American Apparel

Gildan announces plans to enter an asset purchase agreement to acquire the global intellectual property rights related to American Apparel. The company estimates the purchase price at approximately $66 million.

According to Forbes, Gildan Made an announcement on Monday morning with a letter to employees.  The article goes on to point out that Gildan noted in its letter that with the American Apparel court filing it will allow an auction process where other potential buyers could propose a better deal and submit competing offers.

Learn more about American Apparel here on the Fashion Blog.

You can read more of the possible Gildan acquisition of American Apparel at http://www.forbes.com/sites/debraborchardt/2016/11/14/american-apparel-gets-bought-by-canadian-gildan-activewear/#531d778d180c