Kontoor Brands, Inc. has reported that it has closed the acquisition of Helly Hansen, a major entry into the international outdoor and workwear spaces.
The transaction brings the Norwegian performance brand to Kontoor’s stable, which already boasts denim giants Wrangler and Lee. With the acquisition now finalised, Kontoor hopes to solidify its position in category diversification and international expansion, as well as penetration in high-demand segments.
In a statement, Kontoor CEO, President and Chairman Scott Baxter said that this is a defining moment for Kontoor as they continue to build a portfolio of great consumer brands, and the addition of Helly Hansen accelerates their long-term growth path by expanding their reach across channels, product categories, and geographies. He added that he is exceedingly grateful to the Helly Hansen team for their cooperation during this process, and he has every confidence in the value they’ll deliver together to their shareholders.
The company anticipates that the acquisition will drive revenue, adjusted earnings per share, and cash flow immediately from fiscal 2025—coinciding with the 6th May provided financial guidance.
The action reflects Kontoor’s strategic goal to transform above its denim heritage and capitalise on the growing worldwide demand for premium performance and workwear clothing.
