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In a major strategic acquisition, Kontoor Brands – the parent company of Lee and Wrangler – has announced the purchase of Helly Hansen for approximately $900 million, signaling a bold expansion into the booming outdoor apparel market.
The move is set to boost Kontoor’s growth trajectory, with CEO Scott Baxter highlighting the deal’s potential to diversify the company’s product range, sales channels, and geographic reach, particularly within the outdoor and workwear segments.
Founded in 1877, Helly Hansen is renowned for its heritage of textile innovation and global influence, especially in Japan. Previously owned by the Canadian group Ecotextile News, the brand’s integration into Kontoor’s portfolio is expected to drive approximately $680 million in revenue and $80 million in EBITDA over the next year.
The acquisition marks a pivotal shift in the landscape of performance fashion, as heritage and functionality continue to blur the lines with mainstream style.
Photo: Kontoor Brands