April 27 (Reuters) - Hanesbrands Inc HBI.N
- Hanesbrands to acquire Pacific Brands Limited, the no. 1 underwear and intimate apparel company in Australia
- Cash transaction values publicly traded Pacific Brands Limited at $800 million
- Hanes will seek to retain Pacific Brands' senior management team to run business after acquisition
- Deal expected to be immediately accretive to adjusted earnings per share, deliver after-tax internal rate of return in mid-teens
- Deal is projected to deliver full benefits within three years
- Intends to divest tontine pillow business and dunlop flooring business
