Hanesbrands Sells Champion Brand Assets, Inks Japan License Deal

Hanesbrands (HBI) just unveiled an update.

Hanesbrands Inc. has agreed to sell the intellectual property and certain assets of its Champion brand to Authentic Brands Group for around $1.2 billion, with the deal expected to close in late 2024, given specific conditions are met. The agreement also involves post-closing transitions and potential additional payments based on performance. Additionally, Hanesbrands will continue to operate Champion in Japan under a licensing agreement with Authentic, and Vanessa LeFebvre, President of Activewear – Global, will be incentivized with a transaction benefit valued at $2.65 million, subject to the completion of the sale and employment conditions.

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