PBG.AX - Pacific Brands Ltd

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1y target est1.15
  • Business Wire11 months ago

    HanesBrands Announces Agreement to Divest Australian Flooring and Pillow Businesses as Planned

    WINSTON-SALEM, N.C.--(BUSINESSWIRE)-- HanesBrands (NYSE:HBI - News), a leading worldwide marketer of underwear, intimate apparel and activewear, today announced that it has entered into definitive agreements to sell its Australian Dunlop Flooring and Tontine pillow businesses as planned. The businesses are noncore operations acquired as part of Hanes' July 2016 purchase of Pacific Brands Limited of Australia. Hanes has agreed to sell the business and assets of Dunlop Flooring in an all-cash transaction for AUD34 million (US$25 million) to United Kingdom-based Victoria PLC (LSE:VCP.L - News), a publicly traded international designer, manufacturer and distributor of floor coverings.

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