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. Read the transaction press release The Kirkland team was led by corporate partners Allie Wein, Daniel Wolf and William Lay; and associates Alan Heisman, Nick LaPietra and Natalie George; antitrust & competition partners Jack Coles, Andrea Murino and Alasdair Balfour and associate Mariana del Carmen Fernandez; executive compensation partners Rob Fowler and Jared Whalen and associate Matt Mutino; tax partners Sara Zablotney and Vivek Ratnam; technology and IP transactions partners Seth Traxler and Bernadette Coppola and associates Mike James and Justin Garfinkle; employee benefits partner Matt Antinossi; and employment & labor partner Christie Alcala.