Underwear maker Hanesbrands said it would buy former sister company DBApparel, reconnecting two global lingerie brands and giving Hanesbrands increased access to Europe.

Hopes of fast growth in the region, where DBApparel has a large market share, pushed Hanesbrands shares up 9 per cent to a life-high yesterday.

The deal, which values DBApparel at €400 million on an enterprise basis, will bring together the Wonderbra and Playtex brands.

DBApparel sells these brands in Europe. Hanesbrands holds the rights for the two lingerie brands elsewhere and has other clothing brands, such as Hanes and Champion.

Hanesbrands and DBApparel were owned by Sara Lee until 2006, when private equity firm Sun Capital Partner bought Paris-based DBApparel. – (Reuters)