Today, Levi Strauss & Co. (LS&Co.) and Authentic Brands Group (Authentic) announced that they have entered into a definitive agreement for LS&Co. to sell Dockers® to Authentic for an initial transaction value of $311 million, subject to customary adjustments and closing conditions, with the potential to reach up to $391 million through an $80 million earnout opportunity in future years based on the performance of the Dockers® business under Authentic’s ownership.
“The Dockers® transaction further aligns our portfolio with our strategic priorities, focusing on our direct-to-consumer (DTC) first approach, growing our international presence and investing in opportunities across women’s and denim lifestyle,” said Michelle Gass, president and CEO of LS&Co. “After a robust process, we are confident that we maximized the value of the business and that Authentic is the right organization to usher in the next chapter of growth for the Dockers® brand. We thank the global Dockers® team for their strong commitment and execution to building the brand, which continues to be the authority on khaki.”
For more information, see the press release.
