Authentic Brands acquires Lee
Kontoor Brands agreed to sell the Lee jeans brand to an affiliate of Authentic Brands Group for up to $1 billion: $750 million in cash at closing and up to $250 million more in an earnout. It would leave Kontoor with Wrangler and Helly Hansen, and put Lee with the brand-licensing group that already owns Nautica and Brooks Brothers and licenses its names to operators rather than making the clothes itself.
- Value
- $1bn
- Buyer
- Authentic Brands
- Seller
- Kontoor Brands
- Regulatory
- None recorded