08:04 AM EDT, 06/05/2024 (MT Newswires) -- HanesBrands ( HBI ) said Wednesday it has agreed to sell certain operating assets and intellectual property of its global Champion business to Authentic Brands Group, with the deal valued at $1.20 billion.

The deal value could reach up to $1.50 billion via additional cash considerations of up to $300 million subject to the achievement of performance thresholds, the company said.

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