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December 14, 2021

Gildan Activewear acquires Frontier Yarns for $168m

Basic apparel maker Gildan Activewear has acquired Phoenix Sanford, LLC, the parent company of Frontier Yarns for a total cash consideration of about US$168m.

By Beth Wright

Gildan has acquired 100% of the equity interests of Frontier Yarns’ parent company through one of its wholly-owned subsidiaries.

Frontier is a producer of 100% cotton, polyester, and cotton blend yarns.

The yarn operations of Frontier acquired by Gildan include four facilities located in North Carolina employing about 800 employees. During 2021, about 40% of Frontier’s production was dedicated to yarn sold to Gildan for textile manufacturing in Central America and the Caribbean.

The acquisition of Frontier will allow Gildan to build on its global vertically integrated supply chain through further internalising yarn production. In addition, it will support yarn availability for Gildan’s textile capacity expansion plans in Central America and the Caribbean.

“As a long-time trusted yarn supplier of Gildan, with a dedicated and experienced workforce, we are delighted to welcome Frontier into the Gildan family,” says Glenn Chamandy, president and CEO of Gildan. “In line with our business model of investing in global manufacturing, the acquisition of Frontier’s operations broadens and complements our existing yarn capabilities and provides additional yarn capacity to support long-term growth.”

Robin Perkins, CEO of Frontier Yarns, adds: “This acquisition is a testament to the trust Gildan places in our people, their expertise, and our operations and we see this combination as a strong and natural fit. Having developed a long-standing relationship with Gildan over the years, we are excited for our employees given this new opportunity for collaboration and growth.”

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