Underwear and activewear maker HanesBrands has completed its EUR200m (US$223m) acquisition of Champion Europe, which owns the trademark for the Champion brand in Europe, the Middle East and Africa.

The company first announced the deal in April of this year. 

Hanesbrands takes control of global Champion brand

"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," says Gerald W Evans Jr, Hanes COO and CEO-elect.

The company already owns Champion in the Americas, Asia and Australia and recently purchased the Champion business from the group's licensee in Japan. 

Champion Europe designs, sources and sells Champion athletic apparel wholesale to retailers and directly to consumers via company-owned retail stores. Its largest wholesale markets are Italy, Greece, Spain and Scandinavia, while the company operates around 130 retail stores in the former two countries. It expects calendar 2016 net sales of more than EUR190m and operating profit of EUR15m.

Following the acquisition, Sauro Mambrini, CEO of Champion Europe, and the company's European management team will remain with HanesBrands to run the business.

Last month Hanes lifted its full-year forecast for net sales of around US$6.15bn to $6.25bn, up from a previous guidance of $5.8bn to $5.9bn. The renewed outlook reflected expected contributions from the Champion Europe deal, as well as the pending acquisition of Pacific Brands Limited, which is expected to close in July.

Hanesbrands ups FY guidance on acquisitions