Jamie Salter’s intellectual property giant Authentic Brands Group remains on the hunt for new brands and is currently circling Lee jeans, though a deal still seems a way off.  Kontoor Brands Inc. — a 2019 spin off from VF Corp. — said last week that it had launched a “competitive process” to divest Lee , putting a denim business with projected sales of $750 million this year on the open market.  According to the company, “The process has attracted interest from multiple parties and the company anticipates entering into a definitive agreement to divest the Lee business in 2026.” You May Also Like Sources said Morgan Stanley investment banker Carmen Molinos is overseeing the sale.  But the primary party — as might be expected given Salter’s well-known growth ambitions — had been Authentic, which held exclusive negotiations with Kontoor, although sources said that period of exclusivity has expired or is about to. Kontoor, Authentic and Morgan Stanley all declined to comment Monday.…