Gildan Aquires American Apparel

It appears that Gildan has won the bankruptcy auction.

Gildan wins a court-supervised auction to acquire the American Apparel brand and assets with a final cash bid of roughly $88 million. 

Here is a bit of history on the situation.  You can read our previous post about the Gildan Acquisition of American Apparel. 

Gildan Activewear Inc. (GIL: TSX and NYSE) announced on January 10, 2017 that it has emerged as the winner in the court supervised auction to acquire the American Apparel® brand and certain assets from American Apparel, LLC, (American Apparel). The transaction is subject to Bankruptcy Court approval on January 12, 2017 and Gildan anticipates completing the acquisition by early February.

The Company will provide details on the projected financial contribution of the acquisition on the Company’s earnings in February, when it reports its full year 2016 earnings results and initiates guidance for 2017.