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BUZZ-Levi Strauss rises on sale of Dockers to Authentic Brands for $311 mln

Reuters
May 20, 2025
BUZZ-Levi Strauss rises on sale of Dockers to Authentic Brands for $311 mln

** Apparel maker Levi Strauss & Co's <LEVI.N> shares up ~2.8% at $18.07 after co says it will sell Dockers apparel brand to Reebok and Van Heusen owner Authentic Brands Group for $311 mln

** Deal will help LEVI focus more on its flagship Levi's brand and Beyond Yoga activewear line

** "The Dockers transaction further aligns our portfolio with our strategic priorities, focusing on our direct-to-consumer $(DTC.AU)$ first approach, growing our international presence and investing in opportunities across women's and denim lifestyle," Levi CEO Michelle Gass says

** LEVI expects deal to be completed by end of July for U.S. and Canada operations, with remaining global operations closing by January 2026

** Co says it plans to use $100 million of cash proceeds for share repurchases

** YTD shares up ~2%

(Reporting by Rajarshi Roy)

((Rajarshi.Roy@thomsonreuters.com ))

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