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Kontoor Brands to acquire outdoor brand Helly Hansen for $1.27bn

Kontoor Brands, the parent company of Wrangler and Lee, has announced its acquisition of the Norwegian outdoor brand Helly Hansen for $1.27 billion. This strategic move aims to expand Kontoor's portfolio into the outdoor and workwear markets, leveraging Helly Hansen's established reputation in technical outdoor apparel. The acquisition is expected to enhance Kontoor's market presence in Europe and Asia, where Helly Hansen has significant operations. The deal, which includes both cash and stock, is anticipated to close by the end of 2024, subject to regulatory approvals and customary closing conditions. This acquisition will not only diversify Kontoor's product offerings but also integrate Helly Hansen's expertise in performance gear into Kontoor's business model.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/kontoor-brands-to-acquire-outdoor-brand-helly-hansen-for-1-27bn/ar-AA1zsB4k ]