Gildan Activewear is buying the struggling HanesBrands for $2.2 billion in a deal that gives the basic apparel maker access to household name brands like Hanes and Maidenform. The companies put the transaction’s valued at about $4.

The deal would nearly double Gildan’s revenue, but there could be antitrust hurdles because both companies sell underwear, hosiery and shirts.

The transaction, subject to shareholder and regulatory approvals, is expected to close between late 2025 and early 2026.