China’s Anta Sports group has bought a 29% stake in sportswear brand Puma from France’s Pinault family for EU€1.5bn, as it expands into western markets.
Anta will pay EU€35 per share for the stake held by Artemis, the investment vehicle of the Pinault family, which holds a controlling stake in luxury group Kering as part of its portfolio.
The Financial Times reported shares in German sports brand grew by almost 20% in pre-market trading in Frankfurt on Tuesday (26 January). The sale will make Anta the largest stakeholder in Puma.
The stake is below a 30% threshold at which German law requires a mandatory takeover offer to be made to other shareholders.
Anta said in a press release: “The transaction marks a significant step in Anta Sports’ globalization strategy, further enhancing its reach, recognition and competitiveness in the global sporting goods market.”
The German sportswear group had lost market ground to leaders including Nike, Adidas, New Balance, On and Hoka. Last year Puma pledge to cut 900 jobs by the end of 2026 as part of a restructuring plan.
Since its 2007 Hong Kong listing, Anta has built up a portfolio of foreign brands, including gaining the mainland Chinese rights to Fila and Japanese ski brand Descente.
Ding Shizhong, board chairman of Anta Sports, said: “This acquisition makes Anta Sports the largest shareholder of Puma and marks a major step forward in our ‘single-focus, multi-brand, globalisation’ strategy. Puma is an iconic global brand with substantial heritage. Working with Puma, we look forward to learning from each other and joining hands to fully unlock the brand’s full potential. This will further accelerate Anta Sports’ globalisation, and help drive the next chapter of growth for the global sports markets including China – creating lasting value for both companies’ consumers and shareholders worldwide.”
The transaction is expected to close by the end of 2026, subject to relevant regulatory approvals and customary closing conditions. The equity acquisition will be entirely financed with Anta Sports’ internal cash resources.
Source: https://www.wtin.com/