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Champion brand sold for $1.2 billion

06/06/2024
Champion brand sold for $1.2 billion

HanesBrands has announced it will sell its sportswear brand Champion to Authentic Brands Group for $1.2 billion. The deal may reach $1.5 billion with additional performance-based payments.

Authentic Brands will expand into the sportswear market, aligning with the trend for casual and athleisure clothing. Post-sale, HanesBrands will focus on its innerwear brands like Hanes, Bonds, Maidenform, and Bali.

The deal is expected to close in the second half of 2024, with HanesBrands providing transition services and expecting net proceeds of about $900 million.


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