Lee jeans has officially changed hands, with Kontoor Brands confirming it has completed the sale of the 137-year-old denim label to Authentic Brands Group, while the brand's Greensboro headquarters and Mocksville distribution center remain in place under new day-to-day management.
A New Operator Steps In
Kontoor Brands announced that it had completed the sale of the Lee business to Authentic Brands Group, according to a statement from Kontoor Brands. Back in June, Authentic had announced a long-term partnership with One Jeanswear Group to serve as Lee's operating partner across the United States and Canada, a deal the company said at the time was expected to close in the second half of 2026, per its own press release. That timeline held, and One Jeanswear Group has now become responsible for Lee operations effective upon the deal's closing.
Crucially for the Triad, Authentic said Lee's operations would remain headquartered in Greensboro, with One Jeanswear Group also planning to maintain the brand's Mocksville facility. The Triad Business Journal reports that One Jeanswear Group will keep Lee's headquarters at Revolution Mills and its distribution center in Mocksville, confirming that the two local sites tied to the brand's day-to-day work are staying in North Carolina rather than consolidating elsewhere.
Jobs and Sale Price
Local job figures are similar. The Greensboro News and Record reports that more than 400 people work across the two locations, according to OJG, while the Triad Business Journal also puts the figure at more than 400 people working across the headquarters and distribution center.
The price tag tells the same story. The Greensboro News and Record describes the deal's financial breakdown as an initial value of $750 million with a potential additional $250 million contingent on Lee's performance under Authentic's ownership. Kontoor's own announcement of the definitive agreement described the sale as worth up to $1 billion, including an initial transaction value of $750 million and a $250 million earnout opportunity. Kontoor had said the proposed sale was subject to required regulatory approvals and customary closing conditions.
Why Kontoor Sold Its Oldest Brand
The sale traces back to May, when Kontoor Brands announced plans to sell Lee as part of a broader move repositioning the Lee, Wrangler and Helly Hansen brands. In an investor presentation, Kontoor framed the move as a deliberate step meant to sharpen its brand portfolio and unlock investment capacity to fuel accelerated growth behind Wrangler and Helly Hansen. Kontoor was formed in 2019 when VF Corp spun off its Jeanswear organization, and its third-quarter results showed Wrangler growth led by direct-to-consumer, female and international revenue, according to a transcript published by Benzinga.
What Authentic Brands Plans for Lee
Authentic Brands Group outsources its production to third-party vendors. It has turned to its longtime partner One Jeanswear Group, a wholly owned subsidiary of Premier Brands Group Holdings, to run Lee operations in the U.S. and Canada. OJG plans to continue building out its Built Like Lee platform, which debuted in 2025 to attract new generations of consumers, and has signaled a goal of expanding Lee's presence in mass-market channels including Costco and Sam's Club. Internationally, Authentic has signed key partners including Experience Group in Europe, HiMaxx in mainland China, Hong Kong SAR and Macao SAR, and Union Group in Mexico, each providing regional market knowledge in product development, sourcing and distribution.
Lee's reach is global to begin with: the brand generated $1.5 billion in retail-equivalent sales in 2025, with nearly 40 percent of that coming from outside the United States and Canada, and it maintains distribution in 73 countries across more than 900 branded retail locations. Founded in 1889 and acquired by VF Corp in 1969, Lee remains one of the best-known denim brands in the world, with a catalog that includes the Lee Rider jacket, Lee 101 jeans and union-alls.
Leadership Weighs In
Premier Brands Group Holdings' Morris Tbeilie called the acquisition an exciting and important milestone for both his company and OJG. Authentic chief executive Jamie Salter said Lee has the heritage, recognition and consumer loyalty the company looks for in a brand, adding that connecting Lee to Authentic's global platform and partners offers an opportunity to expand its reach through content, experiences and new product categories. Chris Waldeck said the industry experience and institutional knowledge built up around Lee cannot be replicated.
Kontoor chief executive Scott Baxter described the sale as a deliberate step to sharpen the company's brand portfolio and free up investment capacity for future growth. Chris Waldeck said keeping Lee's headquarters in North Carolina creates a consistent foundation that will help drive long-term growth. Baxter said Lee was in a good operational position heading into the sale, with Helly Hansen and Wrangler both growing well, and framed the move as a chance for Lee to become important to someone else's portfolio. Chris Waldeck, the former Lee brand president, now serves as chief executive of Lee operations under the new ownership structure.
