Jim Cramer on Kontoor Brands: “I Like That Story”

Kontoor Brands, Inc. (NYSE:KTB) is one of the 22 stocks Jim Cramer recently talked about. Expressing bullishness on the company’s story, Cramer said:

“Listen, I’m telling stories here. Given all the product that they’ve sourced in Vietnam, who else? Okay, I got a wild one for you, Kontoor Brands, the parent of Lee and Wrangler jeans. They have almost no manufacturing in Vietnam, forget that. But it just acquired Helly Hansen, the outdoor apparel company, affectionately known in the Cramer family as Helly R, and Vietnam is a major manufacturing hub for them. Oh, I like that story.”

A view of a designer staff in front of a studio with lifestyle apparel they designed.

Kontoor Brands (NYSE:KTB) is a lifestyle apparel company that designs, markets, and distributes denim, clothing, footwear, and accessories under the Wrangler, Lee, and Rock & Republic brands. Earlier in the week, Cramer commented:

“Let me give you another one that has a 3% yield, has just completed a dynamite acquisition. Kontoor Brands, the maker of Wrangler and Lee jeans, which did miss the quarter not that long ago, but bear with me here… Helly Hansen’s, that’s a fantastic clothing brand, just purchased by Kontoor Brands.

I cannot believe, they practically stole this one, for something like $900 million, exact price not disclosed. I think the acquisition transformed this company and makes up for any mistakes by Wrangler or Lee on the way. I think they should call the company Helly Hansen.”

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Disclosure: None.