HanesBrands (NYSE: HBI) has closed the deal for Maidenform Brands Inc. for $583 million.
Iselin, N.J.-based Maidenform makes bras, shapewear and panties under the Maidenform, Flexees, Lilyette, Self Expressions and Sweet Nothings brands. The deal was announced in July.
Apparel retailer Hanes funded the deal with cash on hand and short-term borrowings under a revolving credit facility. The company, headquartered in Winston-Salem, N.C., sells tee shirts, bras, panties, shapewear, men’s underwear, children’s underwear, socks, hosiery and activewear.
Goldman Sachs & Co. (NYSE: GS) served as Hanes financial adviser while King & Spalding LLP provided legal advice.