Kontoor Brands sells Lee jeans to Authentic Brands Group for up to $1 billion
Kontoor Brands has agreed to sell its Lee jeans brand to Authentic Brands Group in a deal valued at up to $1 billion. The transaction includes an initial payment of $750 million and an additional $250 million earnout contingent on Lee's future performance under Authentic's ownership. The sale marks a significant shift in the denim market, consolidating brand ownership under Authentic's portfolio.
Key facts
- Kontoor Brands sells Lee jeans to Authentic Brands Group
- Deal valued up to $1 billion
- Initial payment of $750 million
- Earnout of $250 million tied to future performance
- Transaction involves brand ownership transfer
Entities
Institutions
- Kontoor Brands
- Authentic Brands Group
Sources
- Quartz —