Kirkland & Ellis advised iconic apparel brands leader HanesBrands (NYSE: HBI) on the sale of the company’s global Champion business to Authentic Brands Group. The transaction value is $1.2 billion with the potential to reach up to $1.5 billion through an additional contingent cash consideration based on achievement of performance thresholds. The definitive agreement was announced June 5, 2024. The agreement has been unanimously approved by the HanesBrands board of directors and is expected to be completed in the second half of 2024 subject to customary closing conditions.