HanesBrands plans €363 million term loan for DBApparel purchase

By Sara Rosenberg

New York, July 24 – HanesBrands Inc. intends to get a new €363 million institutional term loan for its acquisition of DBApparel of France, according to a 10-Q filed with the Securities and Exchange Commission on Thursday.

Under the acquisition agreement, HanesBrands is buying DBApparel from Sun Capital Partners Inc. for about €400 million (roughly $550 million).

Other funds for the transaction will come from cash on hand.

With the realization of full benefits in three to four years, the acquisition would add, on an annual basis, more than $875 million in net sales, about $125 million in adjusted operating profit excluding actions, and around $1.00 in adjusted earnings per share, excluding actions.

Closing could take place as soon as the third quarter.

J.P. Morgan Securities LLC is serving as exclusive financial adviser to HanesBrands.

HanesBrands is a Winston Salem, N.C.-based marketer of everyday basic apparel. DBApparel is a marketer of intimate apparel, hosiery and underwear in Europe.

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