VF Corp sells LSG biz including Majestic brand to Fanatics

VF Corporation has entered into a definitive agreement to sell its Licensed Sports Group (LSG) business to Fanatics. The company’s LSG business includes the Majestic brand, which supplies apparel and fanware through licensing agreements with US and international professional sports leagues and teams. While the terms of the agreement were not disclosed, the said deal is expected to close in the second quarter of this year.