Gildan Activewear To Acquire Alstyle - Quick Facts

(RTTNews) - Gildan Activewear Inc. (GIL.TO, GIL) announced it has signed a definitive agreement to acquire 100% of the equity interest of Alstyle Apparel, LLC and its subsidiaries, which constitute the apparel division of Ennis, Inc., for a total cash purchase price of $110 million.

The company said, while the acquisition is expected to be slightly accretive to earnings per share in 2016, strong integration synergies are expected to flow through from this transaction in 2017 and 2018.

The Board of Directors has declared a cash dividend of $0.078 per share, payable on June 13, 2016 to shareholders of record on May 19, 2016.