Apparel company HanesBrands (NYSE: HBI) has agreed to acquire Champion Europe, designer of athletic clothing. The approximately $200 million all-cash transaction is expected to close mid-year 2016.
Champion Europe, based in Italy, designs, sources and sells athletic clothing and accessories made for male and female athletes wholesale to retailers and direct to consumers through company-owned stores. It operates approximately 130 stores in Italy and Greece. Following the acquisition, Sauro Mambrini, CEO of Champion Europe, will remain with Hanes to oversee Champion Europe’s operations.