In a substantial move within the sportswear industry, Authentic Brands Group has acquired Champion in a $1.2bn deal.
- The acquisition positions Authentic Brands for further expansion, following their previous purchase of Reebok.
- Champion, a renowned name in athletic wear, achieved global sales near $3bn annually under HanesBrands.
- The management of Champion’s core business in the US and Canada will be handled by AMG Companies.
- New partnerships will see Champion’s reach extend across multiple regions, including Europe and Asia.
Authentic Brands Group (ABG) has announced the completion of its acquisition of the iconic sportswear brand, Champion, for a sum of $1.2 billion. This acquisition marks a significant development in the sportswear sector, further solidifying ABG’s presence following its acquisition of Reebok in 2022. Champion, previously owned by HanesBrands, generates approximately $3 billion in global retail sales annually, making it a valuable addition to ABG’s portfolio.
The management of Champion’s operations in the United States and Canada will be overseen by AMG Companies, described as a ‘long standing and trusted partner of Authentic’. This strategic move ensures that Champion’s core business continues to thrive under experienced guidance.
Furthermore, a new license has been established with GearCo, supported by investment firm Ames Watson, to oversee Champion’s longstanding collegiate clothing lines in the US. This transition highlights a focus on maintaining and expanding Champion’s heritage in collegiate apparel, a niche where it has established considerable prestige over the years.
In Central and South America, the Falic Group will take the lead as the primary partner for Champion’s clothing and accessories. In Mexico, operations will be spearheaded by IB Group, extending the brand’s influence across the Americas.
As part of its strategy for growth and diversification, ABG, with support from partners like GearCo and BBC International, plans to drive innovation while respecting Champion’s rich legacy. Jamie Salter, Authentic’s founder, has expressed enthusiasm for expanding into new markets and introducing additional brand partnerships across Europe, Asia, and Australia in the coming months, positioning Champion for robust global growth.
The acquisition of Champion by Authentic Brands Group sets the stage for accelerated global growth and reaffirms the brand’s commitment to innovation and expansion.
