HanesBrands is a leading seller of licensed collegiate apparel in university bookstores, while Knights focuses primarily on mass market. Combined, the two companies will now serve the collegiate apparel market across all channels of distribution.
Knights Apparel is currently a licensee for a number of colleges and universities as well as the National Hockey League and produces t-shirts, fleeces and polos for men, women, youth and infants.
The transaction is expected to close early in the second quarter.
Knights Apparel's subsidiary Alta Gracia, a socially conscious clothing brand, will not be a part of the transaction and will now operate as a standalone entity.
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