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

Authentic Brands Group has acquired Lee, a consumer other business in the U.S., for up to $1 billion. Lee is a denim brand with a consumer-facing portfolio that Authentic Brands Group plans to reposition through a licensing model after closing. Authentic Brands Group acquisitions in consumer M&A focus on building brand value across retail channels, and the Lee acquisition adds another IP asset to its platform. The divestiture acquisition is being executed as a strategic acquisition by a strategic buyer, with Kontoor Brands receiving $750 million at closing plus a potential $250 million earnout tied to Lee performance. The Kontoor board approved the strategic acquisition, and the deal is expected to close in the second half of the year.