Brief: Kontoor Brands Enters Into Definitive Agreement To Sell Lee Business To Authentic Brands Group
21/05/2026 11:52
May 21 (Reuters) - Kontoor Brands Inc KTB.N: KONTOOR BRANDS ENTERS INTO DEFINITIVE AGREEMENT TO SELL LEE® BUSINESS TO AUTHENTIC BRANDS GROUP KONTOOR BRANDS INC - TO SELL LEE BUSINESS TO AUTHENTIC BRANDS GROUP FOR UP TO $1 BILLION KONTOOR BRANDS INC - DEAL INCLUDES $750 MILLION INITIAL VALUE AND $250 MILLION EARNOUT OPPORTUNITY KONTOOR BRANDS INC - PROCEEDS TO BE USED FOR SHARE REPURCHASES AND TERM LOAN PAYMENTS KONTOOR BRANDS INC - DEAL EXPECTED TO CLOSE IN SECOND HALF OF 2026 Source text: ID:nBw9N5JnLa Further company coverage: KTB.N ((Reuters.Briefs@thomsonreuters.com;))
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