Hanes Brands has entered a purchase agreement to acquire Champion Europe.
Champion Europe currently owns the trademark for Champion in the EMEA region, while Hanes owns the Champion brand in the Americas, Asia and Australia. The acquisition will see the brand unified globally.
The purchase price will be 10 times the actual calendar 2016 earnings of Champion Europe before interest, taxes, depreciation and amortization. The acquisition is expected to close mid-year.