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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