Gildan Activewear is buying the struggling HanesBrands for $2.2 billion in a deal that gives the basic apparel maker access to household name brands like Hanes and Maidenform. The companies put the transaction’s valued at about $4.4 billion when HanesBrands’ debt is included.

We’ll be bringing together Gildan’s leadership in activewear with Hanes leading innerwear retail presence and expertise,” said Chamandy. “The combination will enhance our go-to-market capabilities and our continued growth in all channels.

The deal would nearly double Gildan’s revenue, but there could be antitrust hurdles because both companies sell underwear, hosiery and shirts.