Lee Acquired by Authentic Brands Group | Consumer M&A Deal

Authentic Brands Group has agreed to acquire Lee, a consumer brands dtc business in North Carolina, for up to $1 billion. Lee is a heritage denim and workwear brand with category authority, and Authentic Brands Group acquisitions expand its consumer portfolio and brand licensing capabilities. The consumer M&A deal supports Authentic’s strategy to strengthen global apparel offerings while Kontoor Brands divestiture acquisition enables a portfolio shift toward Wrangler and Helly Hansen in Greensboro, NC. The strategic acquisition is structured with a $750 million initial payment plus a $250 million earnout tied to Lee performance, subject to regulatory approvals and customary closing conditions.