By  on May 3, 2012

MONTREAL — Gildan Activewear Inc. said Thursday it is acquiring competitor Anvil Holdings Inc. for $88 million.

Anvil is the parent company of Anvil Knitwear, a cotton apparel manufacturer based in New York. For its fiscal year ended Jan. 28, Anvil generated earnings before interest, taxes, depreciation and amortization of about $17 million on sales of more than $200 million, according to Gildan.

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