Kontoor Brands Divests Lee Business to Authentic Brands Group in $1 Billion Deal
Kontoor Brands, the global apparel company behind iconic denim labels, announced a definitive agreement this week to sell its Lee business to Authentic Brands Group (ABG) for a total consideration of up to $1 billion. The transaction, which includes an initial cash payment of $750 million supplemented by $250 million in performance-based earn-outs, marks a…