HanesBrands Completes Acquisition of Maidenform Brands

  HanesBrands Completes Acquisition of Maidenform Brands

Company adds Maidenform, Flexees and Lilyette intimate apparel and shapewear
to industry-leading brand portfolio

Business Wire

WINSTON-SALEM, N.C. -- October 7, 2013

HanesBrands (NYSE: HBI), a leading marketer of everyday basic apparel under
world-class brands, today announced that it has closed the acquisition of
Maidenform Brands, Inc., for approximately $583 million.

Maidenform is a leading seller of bras, shapewear and panties under brands
such as Maidenform, Flexees, Lilyette, Self Expressions and Sweet Nothings, as
well as Donna Karan and DKNY intimate apparel under license.

Hanes will discuss expected acquisition-related sales and profit contributions
and expenses on its third-quarter 2013 investor conference call anticipated to
be held in late October or early November.

“Maidenform is a great company with strong brands and a rich tradition of
innovation in intimate apparel,” Hanes Chairman and Chief Executive Officer
Richard A. Noll said. “The Maidenform business and brands are a perfect
addition and complement to our core business and brands. This is an excellent
use of our strong free cash flow to create value.”

The acquisition is expected to create growth and cost savings opportunities
and increased scale to serve retailers. The acquisition will complement Hanes’
Innovate-to-Elevate strategy, which integrates the company’s world-class
brands, low-cost supply chain and product innovation.

Hanes funded the acquisition with cash on hand and short-term borrowings on
its revolving credit facility, which will be retired through free cash flow.

Goldman, Sachs & Co. served as exclusive financial advisor and King & Spalding
LLP served as legal counsel to Hanes.

Cautionary Statement Concerning Forward-Looking Statements

This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements include all statements that
do not relate solely to historical or current facts, and can generally be
identified by the use of words such as “may,” “believe,” “will,” “expect,”
“project,” “estimate,” “intend,” “anticipate,” “plan,” “continue” or similar
expressions. In particular, among others, statements about expectations
regarding the effects of the Maidenform acquisition, including growth,
cost-saving opportunities, increased scale and the impact on the
Innovate-to-Elevate strategy are forward-looking statements. Forward-looking
statements inherently involve many risks and uncertainties that could cause
actual results to differ materially from those projected in these statements.
Where, in any forward-looking statement, we express an expectation or belief
as to future results or events, such expectation or belief is based on the
current plans and expectations of our management, expressed in good faith.
However, there can be no assurance that the expectation or belief will result
or will be achieved or accomplished, and actual results may differ materially
from those contemplated by the forward-looking statements. A number of
important factors could cause actual results to differ materially from those
contemplated by the forward-looking statements, including, but not limited to
our ability to achieve expected synergies and successfully complete the
integration of Maidenform and the level of expenses and other charges related
to the acquisition. We believe these forward-looking statements are
reasonable; however, undue reliance should not be placed on any
forward-looking statements, which are based on current expectations. All
forward-looking statements speak only as of the date hereof. We undertake no
obligation to update or revise forward-looking statements that may be made to
reflect events or circumstances that arise after the date made or to reflect
the occurrence of unanticipated events, other than as required by law.

HanesBrands

HanesBrands is a socially responsible leading marketer of everyday basic
apparel under some of the world’s strongest apparel brands, including Hanes,
Champion, Playtex, Bali, Maidenform, Flexees, JMS/Just My Size, barely there,
Wonderbra and Gear for Sports. The company sells T-shirts, bras, panties,
shapewear, men’s underwear, children’s underwear, socks, hosiery, and
activewear produced in the company’s low-cost global supply chain. Ranked No.
512 on the Fortune 1000 list, Hanes has approximately 51,500 employees in more
than 25 countries and takes pride in its strong reputation for ethical
business practices. Hanes is a U.S. Environmental Protection Agency Energy
Star 2013 and 2012 Sustained Excellence Award winner and 2010 and 2011 Partner
of the Year. The company ranks No. 141 on Newsweek magazine’s list of Top 500
greenest U.S. companies. More information about the company and its corporate
social responsibility initiatives, including environmental, social compliance
and community improvement achievements, may be found on the Hanes corporate
website at www.HanesBrands.com.

Contact:

HanesBrands
Matt Hall, 336-519-3386
or
Analysts and Investors:
T.C. Robillard, 336-519-2115