Gildan Activewear Inc. (TSX:GIL) will look for M&A opportunities. Rhodri J. Harries, Executive VP and Chief Financial & Administrative Officer said, "We talk in terms of priorities, CapEx to drive organic growth and dividends to our shareholders represent the core foundation of our capital allocation program in each year. After these priorities, we look at allocating capital to M&A opportunities, and then share repurchases, which delivers capital back to investors.

On the M&A front, our focus has more recently been limited to manufacturing assets with our biggest investment related to the Frontier yarns acquisition in 2021. In many ways, you can think of this investment (inaudible) CapEx which was made to further reinforce our vertical integration and the capabilities we have within our industry-leading manufacturing platform".