Kontoor Brands completes Helly Hansen acquisition; director Andrew Page resigns
Kontoor Brands, Inc. (NYSE: KTB) announced on June 2, 2025 that it has completed its acquisition of Helly Hansen, the global outdoor and workwear brand. The company said the deal is expected to be immediately accretive to revenue, adjusted earnings per share and cash flow in fiscal 2025, consistent with its May 6, 2025 outlook. Director Andrew E. Page resigned from the board the same day, effective immediately, because his role as CFO of a Kontoor brand competes with Helly Hansen.
- Acquisition of Helly Hansen closed June 2, 2025; the company expects it to be immediately accretive to fiscal 2025 revenue, adjusted EPS and cash flow
- Andrew E. Page resigned from the Board and all committees effective June 2, 2025; the board was reduced to seven members
- Page resigned voluntarily, not over any disagreement with the company, citing that Helly Hansen competes with a brand where he serves as CFO
- Financial statements and pro forma information for the acquired businesses will be filed by amendment no later than August 15, 2025