HanesBrands to sell sportswear business Champion to Authentic Brands in $1.2 billion deal

- HanesBrands said on Wednesday it would sell its sportswear business Champion to Authentic Brands Group in a deal valued at $1.2 billion.HanesBrands said the deal could reach up to $1.5 billion through an additional contingent cash consideration of up to $300 million based on achievement of performance thresholds.

The company said it intends to focus on extending its innerwear category and increase investment across its portfolio of brands including Hanes, Bonds, Maidenform and Bali.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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