Authentic Brands Group Agrees to acquire Lee from Kontoor Brands
The New York-based management group has entered into a definitive agreement to acquire the Lee denim and workwear business from Kontoor Brands in a deal worth 1 billion US dollars
Authentic Brands Group has signed a definitive agreement with Kontoor Brands to acquire the Lee brand in a deal valued at up to 1 billion US dollars. This includes an initial transaction value of 750 million US dollars, with the opportunity for a further 250 million US dollars based on the brand’s performance in future years.
Lee currently generates around 1.5 billion US dollars in annual sales across 73 countries, almost 40% of which come from outside the US and Canada.
“What makes Lee so compelling is its legacy. It’s one of the most important names in denim, with more than a century of heritage, consumer awareness and cultural relevance already built in”, Jamie Salter, Founder and Executive Chairman of Authentic, said.
Moving forward, the brand management group plans to transform Lee into a licensing-led business by drawing on its extensive network of partners and brand-building capabilities. It is collaborating with leading operators to expand the brand across content, experiences, and heritage-inspired lifestyle categories.
“At Authentic, we focus on preserving what consumers love about their favorite brands while putting the right partners, distribution and marketing strategies behind them to drive long-term growth. Lee is exactly the kind of brand we are built for”, Salter concluded.
The deal is now subject to standard closing conditions, including regulatory approval, and is expected to be completed in the second half of 2026.
Image Credits: corporate.authentic.com
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