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.

The Canadian garment company said the acquisition will expand its scale and strengthen its global positioning.

Gildan Activewear has agreed to buy U.S. undergarments maker Hanesbrands for $2.2 billion in cash and stock, the companies said on Wednesday, as the Canadian firm looks to expand its foothold in basic apparel.