12:06 PM EST - Gildan Activewear Inc. : is paying up to US$135 million for U.S. sock maker V.I. Prewett & Son Inc. and boosting its annual profit forecast. The major Montreal-based maker of T-shirts and other apparel said Tuesday it has reached a deal to buy Prewett, a large private-label supplier of basic family socks to U.S. mass-market retailers, based in Fort Payne, Ala. The initial purchase price is US$125 million, plus contingent payments of up to US$10 million. Gildan Activewear Inc.
shares T.GIL are trading up $3.40 at $36.00.
