Authentic Brands Group has finalised its acquisition of sportswear brand Champion in a $1.2bn (£899m) deal.
The Ted Baker and Hunter owner first said in June that it would buy Champion from US clothing company HanesBrands.
The US sporting giant generates nearly $3bn (£2.25bn) in global retail sales annually and is Authentic’s second biggest acquisition after snapping up Reebok from Adidas for €2.1bn (£1.8bn) back in 2022.
AMG Companies, “a long standing and trusted partner of Authentic”, will manage Champion’s core business in the US and Canada while the brand’s long-term US collegiate clothing business will be carried forward under a new license to GearCo, operated by investment firm Ames Watson.
Other partners in the North America region include BBC International for footwear and Gildan for printwear. In Central and South America, Falic Group will be the brand’s primary partner for clothing and accessories, while IB Group will lead the operations in the Mexican market.
Authentic founder, chairman and CEO Jamie Salter said: “Champion has set the standard for quality and innovation for over a century. With the strong backing of our partners at GearCo, BBC and AMG Companies, we’re in a prime position to accelerate Champion’s growth globally.
“Together, we’ll honour its rich heritage while driving innovation and expanding its reach to new markets and consumers. We look forward to shaping the future of this iconic brand.”
Authentic is set to unveil more brand partnerships in new categories and territories, including Europe, Asia and Australia in the coming months.
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