WHP Global and Authentic Brands Group are both interested in buying Champion from its parent company HanesBrands, according to a report by CNBC. Sources also said, however, that a deal is not close to completion, and if HanesBrands ever moves forward, it will not select a buyer until 2024. WHP and ABG did not comment or confirm, said CNBC. Goldman Sachs, which is serving as HanesBrands’ financial advisor for its review of Champion, also declined to comment.
In September, Hanesbrands announced that it was weighing strategic options for the Champion business, including “a potential sale or other strategic transaction,” although the company also added at the time that the assessment process was not necessarily to result in any particular transaction or strategic outcome regarding the brand. During the second quarter ended July 1, Champion global sales fell by 16 percent year-over-year, declining 25 percent in the US and 1 percent internationally.
While Authentic is already very strongly positioned in the sports sector with a large number of brands (Reebok, Quiksilver, Billabong, Eddie Bauer, Prince, Roxy or Spyder, to name but a few), WHP Global only owns Lotto in the segment.
