M&A Deal Summary

Gildan Activewear Acquires GoldToe-Moretz

On April 12, 2011, Gildan Activewear acquired apparel/textiles company GoldToe-Moretz from The Blackstone Group for 350M USD

Acquisition Highlights
  • This is Gildan Activewear’s 5th transaction in the Apparel/Textiles sector.
  • This is Gildan Activewear’s 2nd largest (disclosed) transaction.
  • This is Gildan Activewear’s 4th transaction in the United States.
  • This is Gildan Activewear’s 1st transaction in New York.

M&A Deal Summary

Date 2011-04-12
Target GoldToe-Moretz
Sector Apparel/Textiles
Buyer(s) Gildan Activewear
Sellers(s) The Blackstone Group
Deal Type Add-on Acquisition
Deal Value 350M USD

Target

GoldToe-Moretz

Newton, New York, United States
Gold Toe-Moretz manufactures a broad portfolio of branded, licensed and private-label socks. Two of the hosiery industry’s leading companies, Gold Toe Investment Corp. and Moretz Inc., will combine in a transaction announced today, creating one of the largest global sock companies.

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Buyer(S) 1

Buyer

Gildan Activewear

Montreal, Quebec, Canada

Category Company
Founded 1946
Sector Apparel/Textiles
Employees44,000
Revenue 3.2B USD (2023)
DESCRIPTION

Gildan Activewear is a manufacturer and marketer of branded clothing, including undecorated blank activewear such as t-shirts, sport shirts and fleeces, which are subsequently decorated by screen printing companies with designs and logos. Gildan Activewear was incorporated in 1946 and is based in Montreal, Quebec.


DEAL STATS #
Overall 5 of 13
Sector (Apparel/Textiles) 5 of 12
Type (Add-on Acquisition) 5 of 13
State (New York) 1 of 3
Country (United States) 4 of 10
Year (2011) 2 of 2
Size (of disclosed) 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-11 Gold Toe Moretz Holdings

North Carolina, United States

Gold Toe Moretz is a supplier of high-quality branded athletic, casual and dress socks for mass-market retailers, national chains, price clubs, department stores and specialty sporting goods stores in the U.S. Gold Toe Moretz’s companyowned brands include the iconic Gold Toe® brand, as well as the Silver Toe®, GT®, Auro®, PowerSox® and All Pro® brands. Gold Toe Moretz is also the exclusive U.S. licensee for Under Armour® and New Balance® branded socks. The majority of the purchase price will be represented by intangible assets, including the value of these brands.

Buy $350M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-03 Anvil Holdings

New York, New York, United States

Anvil is a supplier of high-quality basic T-shirts and sport shirts for the printwear market. It has positioned itself as a supplier of high-value branded niche products within the U.S. distributor channel, including products such as Anvil Organic®, Anvil Recycled® and Anvil Sustainable®. It has also increasingly established itself as a strategic supplier of basic apparel products which meet rigorous quality and social compliance criteria for major non-retailer brands.

Buy $88M

Seller(S) 1

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 56 of 173
Sector (Apparel/Textiles) 1 of 6
Type (Add-on Acquisition) 22 of 67
State (New York) 6 of 12
Country (United States) 38 of 105
Year (2011) 3 of 9
Size (of disclosed) 50 of 57
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-01 Mivisa Envases SAU

Murcia, Spain

Mivisa is a manufacturer of high quality metal packaging intended for the food canning industry. Mivisa today has 6 factories in Spain and 4 abroad. The goal of all them is to offer the best product to their customers, relying on the quality of its products, on development and innovation.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-11 Kosmos

Dallas, United States

Kosmos is a full-cycle, deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as world-class gas projects offshore Mauritania and Senegal. Kosmos was founded in 2003 and is based in Dallas, Texas.

Sell -