Kontoor Brands agrees to sell Lee business to Authentic Brands for up to $1 billion

Kontoor Brands, Inc.

Kontoor Brands, Inc.

KTB

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  • Kontoor Brands agreed to sell its Lee business to Authentic Brands Group for up to USD 1 billion, including USD 750 million upfront and a potential USD 250 million earnout tied to future performance under Authentic’s ownership.
  • The deal is expected to close in the second half of 2026, subject to regulatory clearance and customary closing conditions.
  • Kontoor plans to use proceeds for increased share repurchases under its USD 750 million authorization, voluntary term loan repayments, and reinvestment in growth initiatives.
  • The divestment narrows Kontoor’s focus to Wrangler and Helly Hansen, aiming to concentrate investment on higher-growth opportunities in denim, outdoor, and workwear.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kontoor Brands Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20260521532973) on May 21, 2026, and is solely responsible for the information contained therein.

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