Skip to main content

The Globe and Mail

Gildan buying hosiery company Doris for $110-million

Gildan products displayed in this file photo.

Christinne Muschi/The Globe and Mail

Gildan Activewear Inc. says it's buying Canadian hosiery company Doris Inc. for $110-million, positioning it to make headway with women who buy hosiery and underwear.

Montreal-headquartered Doris is the third-largest marketer of hosiery in North America and a market leader in Canada with brands such as Secret, Silks and therapeutic socks, TherapyPlus.

Gildan, also in Montreal, says the acquisition gives it a platform for the retail distribution of its Gildan and Gold Toe brands in Canada, and broadens its retail distribution network in the United States due to Doris' strong presence in the food and drug stores.

Story continues below advertisement

Revenues in the U.S. account for close to 30 per cent of Doris' total sales.

Gildan makes socks, underwear and t-shirts and has most of its most manufacturing facilities in Central America and the Caribbean.

A recent report by Desjardins Capital Markets said an acquisition in women's underwear by Gildan would be complementary to its offerings, noting that its sales mix is lower in women's underwear and activewear in department stores and national retailers.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨