Kontoor Brands Sells Lee Denim Brand to Authentic Brands Group for Up to $1 Billion
Kontoor Brands has agreed to sell the Lee denim brand to Authentic Brands Group in a deal worth up to $1 billion, with an initial payment of $750 million and a potential earnout. The transaction is expected to close by year-end, allowing Kontoor to focus on Wrangler and Helly Hansen.
Topics: Corporate Strategy Fashion Brands Retail