One of the largest producers of spun yarns for the knitting and weaving industries in the world Frontier Yarns has been sold to apparel manufacturer Gildan Activewear. Gildan Activewear Inc., Montreal/Canada, said it acquired Phoenix Sanford LLC, the parent company of Frontier Yarns, for about US$168 million.
During 2021, about 40% of the yarn production of Frontier Yarns Inc., Mayodan, NC/USA, was sold to Gildan for textile manufacturing in Central America and the Caribbean.
The acquisition of Frontier will allow Gildan to build on its global vertically integrated supply chain through further internalizing yarn production. In addition, it will support yarn availability for Gildan's textile capacity expansion plans in Central America and the Caribbean, the company said.