Gildan to Acquire Peds
Gildan just announced purchase of socks company Peds for $55 million (American not Canadian dollars…) This comes on the heels of their acquisitions in the past few years of Anvil, Comfort Colors, New Buffalo Shirt Company, and most recently Alstyle Apparel.
Peds was in the news recently for “reshoring” some of their knitting. They brought some manufacturing back from overseas to North Carolina by keeping a plant open and building a new one. Peds even got a mention in an Obama speech for their efforts.
Interestingly both Gildan and Peds started in Quebec in Canada. Obviously Canada is trying to take over the world, I guess we better build a wall to keep them out…