Hanesbrands Inc.: M&A transaction — Hanesbrands completes Champion sale; expects $1B debt paydown in H2 2024

Hanesbrands Inc.

Closed sale of global Champion IP and operating assets to Authentic Brands Group on Sept 30, 2024.
Expects to pay down approximately $1B of debt in second half of 2024 using proceeds and internal cash generation.
Vanessa LeFebvre, President Activewear – Global, ceased employment upon closing.
Will continue to operate Champion in certain sectors/geographies through Jan 31, 2025 transition period.
Will operate Champion in Japan as a licensee of Authentic.

item 2.01 item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Vanessa LeFebvre

President, Activewear – Global

Hanesbrands Inc.

Effective: 2024-09-30
Filed: September 30, 2024, 7:59 PM ET

Vanessa LeFebvre, the Company’s President, Activewear – Global, ceased employment with the Company upon the closing of the Transaction.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Vanessa LeFebvre departed as President, Activewear – Global at Hanesbrands Inc..

Action: ceased employment
Role: President, Activewear – Global

Exact text from the filing

Vanessa LeFebvre, the Company’s President, Activewear – Global, ceased employment with the Company upon the closing of the Transaction.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Hanesbrands Inc. completed a disposition involving ABG-Champion LLC (f/k/a ABG-Sparrow IPCo LLC) (Authentic) (closed 2024-09-30).

Action: disposition
Counterparty: ABG-Champion LLC (f/k/a ABG-Sparrow IPCo LLC) (Authentic)
Closing: 2024-09-30

Exact text from the filing

On September 30, 2024, the Company completed the previously announced sale of the Business to Authentic.

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21 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Source: SEC EDGAR

accession 0001193125-24-229027

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