Merit to Sell Knights Apparel to HanesBrands for $200M
February 26, 2015
Merit Capital Partners has agreed to sell Knights Apparel to HanesBrands (NYSE: HBI) in an all-cash deal that values Knights at $200 million on an enterprise value basis. Founded in 2001, Knights is a seller of licensed collegiate apparel primarily for the mass retail channel. Guggenheim and Goldman Sachs are acting as financial advisors for the deal, which is expected to close in 2Q. Merit has backed Knights since July 2011.