Authentic Brands Group has successfully completed a major acquisition of Champion, with the transaction valued at $1.2bn (£899m), marking a significant addition to the group’s portfolio.
- The deal was initiated earlier in June, involving the purchase of Champion from HanesBrands, a well-known US clothing company.
- Champion currently reports nearly $3 billion (£2.25bn) in annual global retail sales, making it a significant acquisition for Authentic Brands.
- Known for a legacy of quality and innovation, Champion’s future growth will be strategised through partnerships and licensing.
- Expansion plans are set to take Champion into new markets, with the potential for further collaborations and regional strategies.
Authentic Brands Group (ABG) has finalised its acquisition of the sportswear brand Champion in a deal worth $1.2 billion (£899 million). The acquisition process, first announced in June, involves purchasing Champion from the US clothing company HanesBrands. Champion boasts nearly $3 billion (£2.25 billion) in annual global retail sales, underscoring the brand’s significant market presence.
This acquisition marks ABG’s second-largest since their purchase of Reebok from Adidas for €2.1 billion (£1.8 billion) in 2022. ABG continues to strengthen its portfolio with the addition of Champion, leveraging its reputation for quality and innovation. The transaction entrusts the management of Champion’s core business in the US and Canada to AMG Companies, a longstanding and trusted associate of Authentic Brands.
In the US, Champion’s college apparel division will shift to a new license under GearCo, operated by investment firm Ames Watson. This strategic partnership illustrates ABG’s vision to preserve Champion’s rich heritage while fostering its growth across new markets. Key partnerships in the North American region include BBC International, which will oversee footwear, and Gildan, which will manage printwear.
The Central and South American markets will predominantly be spearheaded by Falic Group for clothing and accessories, with IB Group taking charge of operations in Mexico. Such partnerships reflect ABG’s commitment to enhancing Champion’s market footprint through effective regional collaborations.
ABG has indicated future plans to announce additional brand partnerships, targeting new categories and expanding into Europe, Asia, and Australia. Jamie Salter, Authentic’s founder, chairman, and CEO, emphasised the potential for Champion to grow globally, maintaining its legacy while innovating for a broader audience.
The acquisition of Champion by Authentic Brands Group signals a robust strategy to expand globally while honouring the brand’s enduring legacy of quality and innovation.
