20/06/2012
For Your Information Brader,
ANVIL HOLDINGS, INC. ACQUIRED BY GILDAN ACTIVEWEAR, INC.
Monday, June 04, 2012
William Blair & Company acted as exclusive financial advisor to Anvil Holdings, Inc. ("Anvil" or the "Company"), in connection with the announcement that it has signed a definitive agreement to be acquired by Gildan Activewear Inc. ("Gildan") for a total purchase price of $88 million.
Anvil is a supplier of high-quality basic T-shirts and sport shirts for the printwear market. Emerging from a pre-packaged Chapter 11 proceeding in 2007, the Company has positioned itself as a supplier of high-value branded niche products within the U.S. distributor channel, including products such as Anvil Organic®, Anvil Recycled® and Anvil Sustainable®. Anvil has also increasingly established itself as a strategic supplier of basic apparel products which meet rigorous quality and social compliance criteria for major non-retailer brands.
Gildan is a marketer and global low-cost vertically-integrated manufacturer of quality branded basic apparel. Gildan is the leading activewear brand in the screenprint market in the U.S. and Canada. Gildan sells T-shirts, sport shirts and fleece as undecorated blanks, which are subsequently decorated by screenprinters with designs and logos. It is also one of the world's largest suppliers of athletic, casual and dress socks sold to a broad spectrum of retailers in the U.S. under a diversified portfolio of company-owned brands, including Gold Toe®, PowerSox®, SilverToe®, Auro®, All Pro®, GT®, and the Gildan® brand.
Anvil engaged William Blair to assist it in pursuing a sale of the Company. In conjunction with the engagement, William Blair developed a confidential information memorandum, created a management presentation, marketed the Company to a group of financial and strategic acquirers, coordinated the due diligence process, drove a highly competitive process and assisted in the negotiation of key elements of the definitive purchase agreement.
