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The perfect fit: Wonderbra maker to buy Maidenform [View all]
NEW YORK
Two of the world's top bra makers are coming together in the biggest development in the $11.5 billion underwear industry in years.
Hanesbrands, which makes the Wonderbra, said Tuesday that it agreed to buy bra and underwear company Maidenform Brands Inc. for about $547 million. The deal would add brands like Maidenform, Flexees and Self Expressions to the Hanesbrand roster that includes Playtex, Bali, Champion, Wonderbra and its namesake Hanes.
The merger comes as traditional bra and underwear makers are facing tough competition from specialty stores such as Victoria's Secret that focus on frilly designs and newer rivals like Spanx that make shapewear that promises to control and smooth out bulges.
"Maidenform has great brands that consumers trust," said Hanes CEO Richard A. Noll. "Combining the complementary strengths of both companies creates a lot of growth opportunities."
Hanesbrands, which makes the Wonderbra, said Tuesday that it agreed to buy bra and underwear company Maidenform Brands Inc. for about $547 million. The deal would add brands like Maidenform, Flexees and Self Expressions to the Hanesbrand roster that includes Playtex, Bali, Champion, Wonderbra and its namesake Hanes.
The merger comes as traditional bra and underwear makers are facing tough competition from specialty stores such as Victoria's Secret that focus on frilly designs and newer rivals like Spanx that make shapewear that promises to control and smooth out bulges.
"Maidenform has great brands that consumers trust," said Hanes CEO Richard A. Noll. "Combining the complementary strengths of both companies creates a lot of growth opportunities."
More at http://lubbockonline.com/filed-online/2013-07-24/perfect-fit-wonderbra-maker-buy-maidenform .
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