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Kontoor to Sell Lee Denim Brand to Authentic Brands in up to $1 Billion Deal
The deal includes a $250 million earnout and will let Kontoor focus on Wrangler and Helly Hansen, the company said.
- On Thursday, May 21, 2026, Kontoor Brands, Inc. announced the sale of the Lee denim brand to Authentic Brands Group in a deal valued at up to $1 billion.
- The sale allows Kontoor to reposition its portfolio to focus on structurally higher-growth segments anchored in denim, outdoor and workwear, prioritizing its Wrangler and Helly Hansen subsidiaries.
- Financially, the deal comprises an initial $750 million payment and a potential $250 million earnout, with Authentic planning to convert Lee into a licensing model by late 2026.
- Authentic recently named Matt Maddox as chief executive officer, succeeding Jamie Salter, who transitions to executive chairman as the company prepares for a public offering within 12 months.
- Lee currently generates about $1.5 billion in annual sales across 73 countries, joining an Authentic portfolio that drives more than $36 billion in annual systemwide retail sales.
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13 Articles
Beloved 114-year-old denim company sold in deal worth up to $1 billion
Denim maker Lee has been sold in a deal worth up to $1 billion after its current owner decided it no longer wanted to invest in the brand. On Thursday, the Authentic Brands Group announced it planned to purchase the jean maker from Kontoor Brands.
·Michigan, United States
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News & RecordReposted by 
Winston-Salem Journal
Winston-Salem JournalGreensboro's Kontoor to sell Lee jeans for $1 billion
It's unclear how the sale will affect the Lee workforce in the Triad. Kontoor has about 700 at its headquarters and about 350 at its Mocksville distribution center.
·Cherokee County, United States
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Coverage Details
Total News Sources13
Leaning Left2Leaning Right0Center9Last UpdatedBias Distribution82% Center
Bias Distribution
- 82% of the sources are Center
82% Center
L 18%
C 82%
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