Doris Inc. completes its C$110 million sale to Gildan Activewear

Date Closed: 7/07/2014

Value: C$110 million

On July 7, 2014, Gildan Activewear Inc. (Gildan or Company) announced that it had completed the acquisition of Doris Inc. (Doris) for C$110 million.

The acquisition of Doris immediately provides Gildan with a strong sales organization and platform for retail distribution of the Gildan(R) and Gold Toe(R) brands in Canada. The acquisition also further enhances the Company's consumer brand portfolio within its existing U.S. retail distribution and positions it to increase its penetration in the basic women's apparel markets. It will position the Company for entry into the ladies intimates' category and, in addition, further broadens the Company's retail distribution network in the United States due to Doris' strong presence in the food and drug channel.
Doris, headquartered in Montreal, Quebec, is a marketer and manufacturer of branded sheer hosiery, legwear and shapewear products to retailers in Canada and the United States.

Gildan, headquartered in Montreal, Quebec, is a supplier of quality branded basic family apparel, including T-shirts, fleece, sport shirts, socks and underwear.

BLG represented Doris, a long-time client of Lionel Blanshay, with a team led by Neil Hazan and comprised of Misha Benjamin, Yaniv Saragosti, Angela Maffei, Charles Marquette and Kevin Bianchini, Geneviève Bergeron, Vivian Patsilivas, Alexandre Buswell, Shawn Connelly, Raphael Roditi, Marie-Claude Bellemare, Pascal de Guise and Jon Smithen.