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Levi Strauss to sell Dockers

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Levi Strauss reached a deal to sell Dockers to Authentic Brands Group.

The deal is valued at $311 million. Levi Strauss may make up to $391 million in future years through a brand management business model.

Authentic will own Dockers’ intellectual property, and Centric Brands will handle operations.

Read more from CNBC.

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