Pacific Brands: Hanesbrands to acquire Pacific Brands Ltd.

HanesBrands Inc. plans to acquire Pacific Brands Ltd., an Australian maker of underwear and intimate apparel. The all-cash transaction is valued at approximately US$800 million on an enterprise-value basis, or slightly more than 10 times projected calendar 2016 EBITDA (earnings before interest, taxes, depreciation and amortization). It would pay Pacific Brands shareholders AUD1.15 per share. Hanesbrands announced the definitive agreement in a news release Wednesday evening. The deal is expected...