Hanesbrands to sell Champion brand to Authentic Brands in $1.2 billion deal

Hanesbrands said Wednesday that it signed a deal to sell its Champion brand to Authentic Brands Group. The deal could reach up to $1.5 billion through an additional cash contingent consideration of up to $300 million if performance thresholds are met. This comes after Hanesbrands announced it was considering selling the business in late September.
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