Authentic Brands Group, a prominent entity in the brand acquisition market, has completed the $1.2 billion acquisition of Champion, a renowned sportswear brand.
- Initially announced in June, this acquisition transitions ownership from HanesBrands, adding to Authentic Brands’ growing portfolio.
- Champion stands as a major revenue generator with close to $3 billion in global sales.
- Key operational partnerships have been established across the Americas to manage and expand Champion’s market presence.
- Plans are underway to further expand Champion’s reach into Europe, Asia, and Australia.
Authentic Brands Group recently finalised a significant acquisition of the sportswear brand Champion for $1.2 billion (£899 million), strengthening its influence in the athletic apparel sector. The transaction, initially announced in June, signifies Authentic Brands’ strategic purchase from the former owner, HanesBrands. This acquisition represents one of the largest for the group, second only to its purchase of Reebok from Adidas in 2022 for €2.1 billion (£1.8 billion).
Champion, a prominent name in the sportswear industry, generates nearly $3 billion (£2.25 billion) in global retail sales annually. The brand, well-regarded for its longstanding heritage of quality and innovation, will now benefit from Authentic Brands’ robust market strategies and partnerships.
The management of Champion’s core business operations will be undertaken by AMG Companies, a trusted partner of Authentic Brands, which will handle activities in the US and Canada. In an extended operation, the long-term US collegiate clothing division will be operated under a new license agreement with GearCo, a firm managed by the investment company Ames Watson.
In the North American region, Authentic Brands will leverage partnerships with BBC International to manage footwear and Gildan for printwear. Central and South American markets will witness leadership from the Falic Group for clothing and accessories, while the IB Group is set to manage operations in Mexico, ensuring a comprehensive market outreach.
Future plans by Authentic Brands include unveiling additional strategic partnerships aimed at expanding Champion’s influence across Europe, Asia, and Australia. Jamie Salter, founder, chairman, and CEO of Authentic Brands Group, stated, “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 are in a prime position to accelerate Champion’s growth globally.“
This acquisition not only expands Authentic Brands’ portfolio but also positions Champion for significant global growth and development.
