Gildan Boosts Synergy from Hanes Acquisition, Adding 800 Billion Won in a Day

Gildan Activewear Inc. (NYSE: GIL) jumped 5.36% on the New York Stock Exchange to close at $56.57. Its market capitalization swelled to about $10.5 billion, roughly KRW 14 trillion, representing an increase—not a decline—of approximately $590 million (over KRW 800 billion) in a single day. Trading volume reached around 1.13 million shares, signaling strong buying interest compared with its usual levels.

In its February 26 release covering full-year 2025 results, Gildan reported annual revenue exceeding $3.6 billion and record free cash flow. The company also raised its target for annual synergies from the HanesBrands acquisition to $250 million by 2028 and boosted its quarterly dividend by 10%. Major brokerages including Stifel, CIBC, and RBC have since lifted their price targets from the high-$70s into the $80 range, maintaining “buy” or “outperform” ratings. This sustained analyst optimism has helped drive the recent share-price rally.

Based in Montreal, Canada, Gildan Activewear is a leading global supplier of basic apparel—T-shirts, underwear and socks—mass-produced at facilities in Latin America and the Caribbean to dominate the blank-apparel market. In August 2025, it struck a deal to acquire HanesBrands for about $2.2 billion (approximately KRW 3 trillion), bringing Hanes and Champion into its brand portfolio. That transaction followed a dramatic governance shift in 2024, when activist fund Browning West waged a proxy fight that resulted in the board’s collective resignation and the return of founder Glenn Chamandy to helm the company.