HanesBrands to Sell Champion to Authentic Brands for Up to $1.5 Billion, Stock Rises 16%

Jun 5, 2024, 12:19 PM

HanesBrands has agreed to sell its sportswear business, Champion, to Authentic Brands Group. The deal is valued at up to $1.5 billion, with some reports indicating a value of $1.2 billion. HanesBrands' stock has risen by 16% following the announcement on Wednesday. The transaction will see Authentic Brands Group acquiring the global Champion business, marking a significant strategic move for both companies.