Acquisition announced
Authentic Brands acquires Lee (2026)
Authentic Brands announced the acquisition of Lee on 21 May 2026 for $1 billion; the deal is announced.[1]
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.
Recorded as announced; closing is expected in the second half of 2026. Kontoor remains the owner of Lee until then.
Deal facts
- Announced
- Expected close
- Pending
- Value
- $1 billion
- Buyer
- Authentic Brands
- Seller
- Kontoor Brands
- Assets
- Lee
- Regulatory review
- None recorded
Who owns Lee today?
- Lee — owned by Kontoor Brands since 2019
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] Kontoor Brands, Inc. Form 8-K Exhibit 99.1 - agreement to sell Lee to Authentic Brands Group — SEC EDGAR, SEC Form 8-K, published 21 May 2026; retrieved 16 September 2026.
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