Add-on Acquisition • Agriculture

Gildan Activewear Acquires Frontier Yarns

On December 13, 2021, Gildan Activewear acquired agriculture company Frontier Yarns for 168M USD

Acquisition Context
  • This is Gildan Activewear’s 1st transaction in the Agriculture sector.
  • This is Gildan Activewear’s 4th largest (disclosed) transaction.
  • This is Gildan Activewear’s 10th transaction in the United States.
  • This is Gildan Activewear’s 2nd transaction in North Carolina.

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M&A Deal Summary

Date December 13, 2021
Target Frontier Yarns
Sector Agriculture
Buyer(s) Gildan Activewear
Deal Type Add-on Acquisition
Deal Value 168M USD

Target Company

Frontier Yarns

Sanford, North Carolina, United States
Frontier Yarns is a producer of 100% cotton, polyester, and cotton blend yarns primarily manufactured on open-end and vortex spinning technology. Frontier Yarns is based in Sanford, North Carolina.
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Buyer Overview 1

Buyer

Gildan Activewear

Montreal, Quebec, Canada

Category Company
Founded 1946
Sector Apparel/Textiles
Employees50,000
Revenue 3.3B USD (2024)
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 Context for Buyer #
Overall 13 of 14
Sector: Agriculture 1 of 1
Type: Add-on Acquisition 13 of 14
State: North Carolina 2 of 3
Country: United States 10 of 11
Year: 2021 1 of 1
Size (of disclosed) 4 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Swift Spinning

Columbus, Georgia, United States

Swift Spinning is a producer of carded and combed ring spun yarn. Swift serves the hosiery, knitting and weaving markets. Swift Spinning was founded in 1906 and is based in Columbus, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-13 Hanes

Winston-Salem, North Carolina, United States

Hanes is a consumer goods company with a portfolio of apparel brands, including Hanes, Champion, C9 by Champion, Bali, Playtex, Just My Size, L’eggs, barely there, Wonderbra, Gear for Sports, Zorba, Sol y Oro and Rinbros. Hanes was founded in 1901 and is based in Winston-Salem, North Carolina.

Buy $4.4B