Authentic Brands Group announced it has signed a definitive agreement to acquire Lee from Kontoor Brands in a deal that expands Authentic’s growing portfolio of global fashion and lifestyle brands.
Founded in 1889, Lee is one of the most recognized names in denim and workwear, with more than a century of heritage in craftsmanship, innovation and American style. The company currently generates approximately $1.5 billion in annual retail equivalent sales across 73 countries, with nearly 40% of revenue coming from markets outside the United States and Canada.
Authentic said Lee is a strong strategic fit for its platform, which focuses on acquiring iconic consumer brands and scaling them through licensing, partnerships, marketing and storytelling initiatives. Following the closing of the transaction, Authentic plans to transition Lee into a licensing-driven business model by leveraging its network of more than 1,700 licensing partners worldwide.
The company is also in discussions with brand operators to support Lee’s existing operations while expanding the brand into additional content, experiential and heritage lifestyle categories.
Jamie Salter, Founder and Executive Chairman of Authentic, emphasized Lee’s longstanding global recognition and cultural impact as key factors behind the acquisition.
The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.
Morgan Stanley is serving as financial advisor to Kontoor Brands, while Kirkland & Ellis is acting as legal advisor to Authentic. Foley & Lardner is serving as legal advisor to Kontoor Brands.
Authentic Brands Group is a global sports, media, entertainment and lifestyle platform with a portfolio of more than 50 brands, including Reebok, Champion, Nautica and Brooks Brothers. The company said its brands collectively generate more than $36 billion in annual systemwide retail sales worldwide.
KEY QUOTES:
“What makes Lee so compelling is its legacy. It’s one of the most important names in denim, with more than a century of heritage, consumer awareness and cultural relevance already built in. At Authentic, we focus on preserving what consumers love about their favorite brands while putting the right partners, distribution and marketing strategies behind them to drive long-term growth. Lee is exactly the kind of brand we are built for.”
Jamie Salter, Founder and Executive Chairman, Authentic Brands Group
