Gildan Activewear Inc. has completed the acquisition of Shahriyar Fabric Industries Limited for the price of approximately $15 million, including the assumption of all debt.
Shahriyar owns and operates a vertically-integrated knitting, dying, finishing, cutting and sewing facility for the manufacture of high-quality ringspun T-shirts near Dhaka, Bangladesh with annual capacity for nearly 2.2 million dozens.
The acquisition of Shahriyar is the end-result of Gildan’s plan to develop a vertically integrated hub in Asia.
