This Fund Sold $49.5 Million of Gildan as the Apparel Maker Pursues $2.2 Billion HanesBrands Merger

Core Insights - Coliseum Capital Management has completely exited its position in Gildan Activewear, selling approximately 1 million shares for an estimated value of $49.5 million [2][6][7] Company Overview - Gildan Activewear is a leading global manufacturer of basic apparel, known for its scale and vertical integration, which allows for cost-efficient product delivery [5] - The company has a market capitalization of $8.3 billion and reported revenue of $3.4 billion with a net income of $475.1 million for the trailing twelve months [4] Recent Developments - Gildan is in the process of a significant transformation, planning a $2.2 billion acquisition of HanesBrands, which is expected to double its revenue and generate $200 million in annual cost synergies within three years [6][9] - The company has reaffirmed its 2025 guidance and reported a record adjusted operating margin of 23% [9] Market Performance - As of the latest market close, Gildan's shares were priced at $55.82, reflecting a 13% increase over the past year, slightly underperforming the S&P 500's 14% gain during the same period [3]