Kontoor Brands

KTB

Market cap $3.88B

Kontoor Brands, Inc. is divesting the Lee brand for up to $1 billion. Lee has been KTB's weakest brand and has consistently reported declining sales and earnings. The transaction values a weak brand at a good multiple. The focus shifts to Helly Hansen and Wrangler, both of which look to grow KTB's earnings well.

GREENSBORO, N.C.--(BUSINESS WIRE)--The Coors Banquet x Wrangler Collection, available starting May 28th, will feature 23 unique pieces, including men's and women's apparel and caps.

The limited-edition denim transforms Rice's new song into a one-of-a-kind wearable using Banquet-infused ink, turning the collaboration into both a fashion release and the song's world premiere Key Summary Bullets Coors Banquet and Wrangler reunite for their third collaboration, celebrating their shared Western heritage with a limited-edition apparel collection. Longtime Coors Banquet fan and award-winning country artist Chase Rice joins the collaboration, bringing an authentic voice and personal storytelling to the collection.

KTB sharpens its portfolio around Wrangler and Helly Hansen to drive resilient growth amid macroeconomic uncertainty.

KTB eyes faster growth through Wrangler and Helly Hansen as it advances plans to divest the Lee business.

The sale is initially for $750 million and includes $250 million in potential future payment based on the performance of Lee.

Kontoor Brands ​said on Thursday it had ‌agreed to sell its Lee denim brand for up to $1 billion to ​Authentic Brands Group, as the ​apparel maker pushes to streamline ⁠its operations and focus investment ​on higher-growth brands such as Wrangler.

NEW YORK, May 21, 2026 /PRNewswire/ -- Authentic Brands Group (Authentic), a global brand and entertainment platform, today announced a definitive agreement to acquire Lee, one of the most recognized and enduring names in global denim, from Kontoor Brands, Inc. (NYSE: KTB). As the owner of some of the most iconic and beloved sports, fashion, media and entertainment intellectual property in the world, Authentic sees Lee as a natural fit for its global platform.

GREENSBORO, N.C.--(BUSINESS WIRE)---- $KTB--Kontoor Brands, Inc. (NYSE: KTB) today announced it has signed a definitive agreement to sell the Lee® business to Authentic Brands Group (Authentic) for up to $1 billion, including an initial transaction value of $750 million and a $250 million earnout opportunity in future years based on the performance of Lee under Authentic's ownership. The transaction is subject to required regulatory approvals and customary closing conditions. “The Lee transaction is a d.

KTB eyes major growth potential in outdoor wear as Helly Hansen expands in the underpenetrated U.S. market with new technical apparel and footwear.