Hanesbrands signs agreement to sell global champion business to authentic brands group

Winston-salem, n.c.--(business wire)--hanesbrands (nyse: hbi), a global leader in iconic apparel brands, today announced that it has entered into a definitive agreement to sell the intellectual property and certain operating assets of the company's global champion business to authentic brands group (“authentic”) for a transaction value of $1.2 billion, with the potential to reach up to $1.5 billion through an additional contingent cash consideration of up to $300 million based on achievement of.
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