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Add as a preferred source on GoogleKontoor Brands Completes Lee Sale to Authentic Brands Group
The completed sale shifts Kontoor’s focus toward Wrangler and Helly Hansen.
Kontoor Brands, Inc. said Tuesday, Nov. 3, that it completed the sale of Lee to Authentic Brands Group, finishing a divestiture that shifts its portfolio toward Wrangler and Helly Hansen.
The planned sale was valued at up to $1 billion.
The closing completes Kontoor’s previously covered plan to sell Lee and concentrate on Wrangler and Helly Hansen. Kontoor CEO Scott Baxter said he expects the narrower portfolio to support growth and stronger returns for shareholders.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.