HanesBrands to finance Knights Apparel purchase with revolver draw

By Tali Rackner

Norfolk, Va., Feb. 24 – HanesBrands Inc. plans to use short-term borrowings under its revolving credit facility and cash on hand to fund its acquisition of Knights Holdco, Inc., known as Knights Apparel, according to a filing with the Securities and Exchange Commission.

The purchase price is roughly $200 million.

HanesBrands is a Winston Salem, N.C.-based marketer of everyday basic apparel.

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