WINSTON-SALEM, N.C. (WGHP) — An international clothing company based in Winston-Salem is on the verge of being sold for $5 billion, according to the Financial Times.

Gildan Activewear, a Canadian-based clothing manufacturer, is nearing a deal to acquire HanesBrands for $5 billion.

Financial Times reports that "deal talks are at an advanced stage." However, while an agreement could be in place by the end of the week, talks still could break down.

In 2024, Hanesbrands sold its clothing line, Champion, to Authentic Brands Group.

Hanesbrands was also known for its three-decade partnership with basketball star Michael Jordan.

The companies put the transaction’s value at about $4.4 billion when HanesBrands' debt is included.

Gildan, in addition to its namesake brand, also makes American Ap

See Full Page