(all amounts are in U.S. dollars except where otherwise indicated)

MONTREAL, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) today announced that, through one of its wholly-owned subsidiaries, it has acquired 100% of the equity interests of Phoenix Sanford, LLC, the parent company of Frontier Yarns for a total cash consideration of approximately $168 million.