Authentic Brands Group (Authentic) has finalized its acquisition of the athleticwear brand Champion, marking the second-largest acquisition in the company’s history. 

With this deal, Authentic further solidifies its position as the largest sports and entertainment licensing company worldwide, with Champion generating nearly $3 billion annually in global retail sales.

Authentic plans to expand Champion’s global reach, ensuring its continued success in athleticwear and as the creator of the iconic hoodie. In particular, it plans to announce additional brand partnerships across new categories and territories, including Europe, Asia, and Australia in the coming months.

“Champion has set the standard for quality and innovation for over a century,” said Jamie Salter, founder, chairman and CEO of Authentic. 

“This acquisition marks a significant milestone, not just for Champion, but for Authentic as well. With the strong backing of our partners at GearCo, BBC and AMG Companies, we’re in a prime position to accelerate Champion’s growth globally. Together, we’ll honor its rich heritage while driving innovation and expanding its reach to new markets and consumers. We look forward to shaping the future of this iconic brand.”

As part of the acquisition, Champion’s long-standing U.S. collegiate apparel business has been granted to GearCo under a new license, which will be managed and operated by Ames Watson with Fanatics as an investor.

Champion’s core U.S. and Canadian business will continue under AMG Companies through its affiliates, including High Life for activewear, Basic Resources for underwear and sleepwear, and USA Legwear for legwear. Additional partners, including BBC for footwear and Gildan for printwear, will support the next phase of Champion’s growth. 

In Central and South America, Champion’s apparel and accessories will be led by Falic Group, while IB Group will maintain its omnichannel strategy in the Mexican market.

“We are proud to welcome Champion to the Authentic family and tap into the brand’s unstoppable spirit,” added Nick Woodhouse, president and chief brand officer of Authentic. 

“As the originator of the sweatshirt and a pioneer in activewear, Champion holds a legendary place in history. With a bold plan for the future, we’re ready to build on that legacy alongside our incredible partners, driving the brand forward and continuing to inspire athletes and active lifestyles for years to come.”