02/15/24
8:30 am EST
Most Recent
Press Release
HanesBrands Completes Acquisition of Champion Europe, Uniting Champion Brand Globally
HanesBrands Completes Acquisition of Champion Europe, Uniting Champion Brand Globally
June 30, 2016 at 4:06 PM EDT
“We now have a powerful global platform to drive Champion brand
growth on every continent using our Innovate-to-Elevate strategy and
low-cost, large-scale supply chain,” said Hanes Chief Operating Officer
and CEO-Elect Gerald W. Evans Jr. “Sauro Mambrini, the chief executive
officer of Champion Europe, and the accomplished European management
team will remain with
Hanes acquired the privately held Champion Europe, based in
The acquisition and expected performance for the balance of 2016 is
already reflected in the company’s updated financial guidance that was
announced
Champion
“Champion is a great global brand that appeals to consumers
worldwide and has great expansion and growth opportunities,” Mambrini
said. “In Europe, we capitalize on the Champion heritage from
Cautionary Statement Concerning Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements include
all statements that do not relate solely to historical or current facts,
and can generally be identified by the use of words such as “may,”
“believe,” “will,” “expect,” “project,” “estimate,” “intend,”
“anticipate,” “plan,” “continue” or similar expressions. In particular,
among others, statements about the expected full-year 2016 performance
of Champion Europe S.p.A. are forward-looking statements.
Forward-looking statements inherently involve many risks and
uncertainties that could cause actual results to differ materially from
those projected in these statements. Where, in any forward-looking
statement, we express an expectation or belief as to future results or
events, such expectation or belief is based on the current plans and
expectations of our management, expressed in good faith. However, there
can be no assurance that the expectation or belief will result or will
be achieved or accomplished, and actual results may differ materially
from those contemplated by the forward-looking statements. A number of
important factors could cause actual results to differ materially from
those contemplated by the forward-looking statements, including, but not
limited to our ability to achieve expected synergies and successfully
complete the integration of Champion Europe, the highly competitive and
evolving nature of the industry in which we compete; legal, regulatory,
political and economic risks associated with our operations in
international markets, including the risk of significant fluctuations in
foreign exchange rates; the loss or interruption of services of a member
of our senior management team; the accuracy of the estimates and
assumptions on which our financial statement projections are based; any
inadequacy, interruption, integration failure or security failure with
respect to our information technology; the impact of significant
fluctuations and volatility in various input costs, such as cotton and
oil-related materials, utilities, freight and wages; current economic
conditions, including consumer spending levels and the price elasticity
of our products; unanticipated business disruptions or the loss of one
or more suppliers in our global supply chain; and other risks identified
from time to time in our most recent
View source version on businesswire.com: http://www.businesswire.com/news/home/20160630006307/en/
Source: HanesBrands HanesBrands
HanesBrands
News Media Contact:
Matt Hall, 336-519-3386
or
Analysts
and Investors Contact:
T.C. Robillard, 336-519-2115
Data Provided by Refinitiv. Minimum 15 minutes delayed.