PVH Corp has agreed to sell its Warners, Olga and True & Co businesses to longstanding partner Basic Resources in a $160 million deal expected to close at the end of this month.

Established in 1993, Basic Resources is a private, family-owned organization that manufactures and distributes apparel for leading consumer brands.

Stefan Larsson, CEO of PVH, described the transaction as an “important next step” to accelerate the PVH+ Plan, in which it aims to concentrate its focus and resources on its core brands Calvin Klein and Tommy Hilfiger.

“We are thrilled to bring the Warners, Olga and True&Co brands into our portfolio of leading consumer brands,” said Salomon Harari, CEO of Basic Resources.

“We look forward to welcoming the team and leveraging our resources and expertise in the market to drive continued growth by offering customers well-designed, high-quality products.”

PVH said it plans to use the net proceeds from the transaction to repurchase shares of its common stock.