Gildan announce the agreement to purchase Peds Legwear Inc. for $55 million.
AKC Note: In 2014 the Canadian hosiery manufacturer Richelieu Legwear expanded an existing investment that they had in Hildebran, NC (formerly International Legwear). At the time it was stated that Richelieu was “the leading provider of leg wear products to Walmart under brand names that include Peds, MediPeds and Growing Socks”. Richelieu Legwear was rebranded as Peds Legwear, also in 2014. Gildan has rapidly increased its presence in the legwear business through a number of acquisitions in the last 10 years including major producers such as Kentucky Derby and V.I. Prewett. Most of the acquired production has been relocated to a Gildan plant in Honduras, while they have invested heavily in yarn spinning operations in the US.
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