HanesBrands agreed to acquire Knights Apparel, a leading seller of licensed collegiate logo apparel, from affiliates of Merit Capital Partners. Knights sells apparel representing 400 of the largest U.S. colleges and universities, primarily to mass merchant retailers. The company complements Hanes’ Gear for Sports division, which is a leading seller of licensed collegiate apparel in university bookstores.
With the addition of Knights, Hanes expects to be an even stronger growth partner for licensed and graphic apparel with more than $450 million in combined annualized sales. “This is an exciting acquisition opportunity to leverage our existing Gear for Sports licensed collegiate apparel business, our expertise and size in the mass retail channel, and our low-cost global supply chain,” HanesBrands Chairman and CEO Richard A. Noll said.