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. Lee is a pioneer in denim and workwear with more than a century of cultural influence, innovation and craftsmanship behind it. Today, the brand generates approximately $1.5 billion in annual retail-equivalent sales across 73 countries, with nearly 40% coming from outside the US and Canada.

"What makes Lee so compelling is its legacy," said Jamie Salter, Founder and Executive Chairman of Authentic. "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."

Upon closing of the transaction, Authentic plans to convert the Lee business into a licensing model, leveraging its brand-building expertise, network of more than 1,700 best-in-class partners and powerful marketing and storytelling platform. The Company is in discussions with leading brand operators to support Lee's existing business and expand it across content, experiences and heritage-driven lifestyle categories.

The transaction is subject to certain standard closing conditions, including regulatory approval, and is expected to close in the second half of 2026.

Kirkland & Ellis LLP is acting as legal advisor to Authentic. Morgan Stanley is acting as financial advisor, and Foley & Lardner LLP is acting as legal advisor to Kontoor Brands, Inc.

Kontoor Brands, Inc. has also issued a separate press release regarding the transaction, available here.

About Authentic Brands Group

Authentic Brands Group (Authentic) is a leading sports, media, entertainment and lifestyle platform. As the owner of some of the most iconic and beloved intellectual property in the world, Authentic acquires and invests in brands to create long-term value for all of its stakeholders.

A digital-first, asset-light platform, Authentic sits at the intersection of culture, commerce and technology. It brings brands to life and cultivates fandom through powerful storytelling, premium content and unforgettable live experiences. Together with more than 1,700 best-in-class licensing partners across 150 countries and an expansive distribution network, Authentic's brands drive more than $36 billion in annual systemwide retail sales worldwide.

Authentic's diversified portfolio spans more than 50 brands and reaches nearly one billion social media followers. Its roster includes Reebok, Champion, Shaquille O'Neal, David Beckham, Kevin Hart, Sports Illustrated, Elvis Presley, Muhammad Ali, Marilyn Monroe, GUESS, Aéropostale, Nautica, Eddie Bauer, Lucky Brand, Nine West, Brooks Brothers, Juicy Couture, Vince Camuto, Izod, Van Heusen, Dockers, Ted Baker, Hart Schaffner Marx, Vince, Barneys New York, Judith Leiber, Quiksilver, Spyder, Billabong, Volcom, Roxy, RVCA, DC Shoes, Prince, Sperry and Hunter.

For more information, visit corporate.authentic.com. Follow Authentic on LinkedIn, Instagram and WeChat.

About Lee

Founded in 1889, Lee is one of the world's most iconic denim and casual apparel brands. Known for its heritage craftsmanship, innovation and timeless style, Lee has shaped generations of culture and self-expression through authentic American design.

Contact:

Haley Steinberg

hsteinberg@authentic.com

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SOURCE Authentic Brands Group

Authentic Brands Group Signs Definitive Agreement to Acquire Lee®