Millesime giant ABG Altaroc Odyssey 2021, a New York-based brand management specialist, has signed an agreement to acquire the American brand Champion. After Reebok and Forever 21, the group continues to acquire popular brands. The two parties have agreed on a purchase price of $1.2 billion.
"Over the past few years, the addition of new brands as well as the expansion of live events, have made Authentic a leading sports and entertainment licensing company. The integration of Champion further strengthens our position in this area," said Jamie Salter, President and CEO of Authentic Brands Group.
ABG said it planned to leverage its expertise in brand development to convert Champion's business to a licensed model. The company is in discussions with several operators in key regions to manage the brand's manufacturing, physical retail, e-commerce and wholesale operations and maintain its global presence. With no fewer than 120 direct sales outlets in Europe, and a new boutique recently opened in Paris on rue Saint-Honoré, Champion's regional subsidiary hopes in this context to maintain its momentum.
According to the Group, the Champion brand generated consolidated EBITDA of $75 million last year. Founded in 1919, Champion has become one of the world's leading sportswear brands. Known for its iconic "C" logo, it operates in over 90 countries, with over 40% of its business generated outside North America.
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