Authentic Brands Group (Authentic), a global brand development, marketing, and entertainment platform, has announced that it has signed a binding agreement to purchase the Champion Athleticwear brand and business from HanesBrands (NYSE:HBI). This strategic move demonstrates Authentic’s commitment to expanding its portfolio of iconic sports, lifestyle, entertainment, and media brands and will increase its system-wide annual retail sales to more than US$32 billion worldwide. The acquisition of Champion is subject to certain standard closing conditions, including regulatory approval, and is expected to be finalized in the second half of 2024.

Latham & Watkins LLP represents Authentic in the transaction with a corporate deal team led by New York partners Justin Hamill and Michael Anastasio, and Century City counsel Michael Montgomery.