Gildan Activewear has acquired Phoenix Sanford, the parent company of Frontier Yarns for a total cash consideration of approximately $168 million.

Frontier is a leading producer of 100% cotton, polyester and cotton blend yarns primarily manufactured on open end and Murata Vortex spinning machines. The yarn operations of Frontier acquired by Gildan include four facilities located in North Carolina employing approximately 800 people. During 2021, approximately 40% of Frontier’s production was dedicated to yarn sold to Gildan for textile manufacturing in Central America and the Caribbean.

The acquisition will allow Gildan to build on its global vertically integrated supply chain through further internalising yarn production. In addition, it will support yarn availability for Gildan’s textile capacity expansion plans in Central America and the Caribbean.

“As a long-time trusted yarn supplier of Gildan, with a dedicated and experienced workforce, we are delighted to welcome Frontier into the Gildan family,” said Glenn J. Chamandy, president and CEO of Gildan. “In line with our business model of investing in global manufacturing, the acquisition broadens and complements our existing yarn capabilities and provides additional yarn capacity to support long-term growth.”

“This acquisition is a testament to the trust Gildan places in our people, their expertise and our operations and we see this combination as a strong and natural fit,” said Robin Perkins, CEO of Frontier Yarns. “Having developed a long-standing relationship with Gildan over the years, we are excited for our employees given this new opportunity for collaboration and growth.”

With approximately 46,000 employees worldwide, Gildan is a leading manufacturer of everyday basic apparel which markets its products in North America, Europe, Asia-Pacific and Latin America under a diversified portfolio of company-owned brands. It owns and operates vertically-integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America and Bangladesh.

www.gildancorp.com