The Chinese sports company Anta Sports is buying 29.06% of the shares of the German sportswear manufacturer Puma from the French investment company Groupe Artémis for €1.5 billion.
The deal that will make Anta Sports the largest shareholder of Puma is planned to close by the end of 2026 after obtaining regulatory approvals.
Anta will gain representation on Puma's supervisory board, but it emphasized that it will support the independence of the German company, its management, and strategy, and is not currently planning a full acquisition of Puma.
Anta Sports has over 35 years of experience in the sports goods industry and holds leading positions in the Chinese market. The company also owns a portfolio of brands, including Fila and Jack Wolfskin. Additionally, in 2019, it acquired Amer Sports (owner of Salomon and Arc'teryx) for $5.2 billion. Anta's market capitalization is nearly $28 billion.
Reports that Groupe Artémis (the Pinault family) is considering selling its stake in Puma emerged last summer. Among the contenders for this stake, besides Anta, were Chinese Li Ning Co. and Japanese Asics Corp.
In recent years, Puma has been going through tough times. Last year, its shares plummeted by dozens of percent, and the company's market value fell to €2.5 billion (currently €3.4 billion).
In July, Puma appointed a new CEO who is trying to revive the business by cutting 900 jobs, focusing on key categories, and refreshing marketing.
