Anta Sports Products Limited confirmed early Tuesday in China that it inked an agreement with Groupe Artémis, the investment company of the Pinault family, to acquire a 29.06 percent stake in Puma SE in a deal worth 1.5 billion euros, or about $1.8 billion.
The transaction is expected to close by the end of 2026. The equity acquisition will be entirely financed with Anta Sports’ internal cash resources, the company said.
Anta added that it “fully appreciates” Puma’s management culture and independent governance as a German-listed company and intends to seek “adequate representation” on Puma’s supervisory board. These representatives will work closely with the other supervisory board members from both the shareholders’ and employee representatives’ side, while preserving Puma’s strong brand identity and heritage, the company noted.
Anta further stated that it currently has no plans to make a takeover offer for Puma but will “carefully assess” the possibility of further deepening the partnership between the two parties in the future.
FN has reached out to Puma for comment.
Ding Shizhong, board chairman of Anta Sports, said in a statement that this acquisition makes Anta Sports the largest shareholder of Puma and marks a major step forward in our ‘single-focus, multi-brand, globalization’ strategy.
“Working with Puma, we look forward to learning from each other and joining hands to fully unlock the brand’s full potential,” Shizhong said. “This will further accelerate Anta Sports’ globalization, 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 chairman added that Anta believes Puma’s share price over the past few months “does not fully reflect the long-term potential of the brand.”
“We have confidence in its management team and strategic transformation,” Shizhong added. “Moving forward, we hope to build strong trust, work together at arm’s length, and leverage our complementary strengths without comprising independence. We look forward to supporting the brand’s ongoing revival.”
Anta was established in 1991 and was officially listed on the main board of Hong Kong Exchanges and Clearing Limited in 2007. Anta Sports’ portfolio of brands includes Anta, Fila, Descente, Kolon Sport, Maia Active and Jack Wolfskin. The company is also the largest shareholder of Amer Sports, the parent company of Arc’teryx, Salomon, Wilson, Peak Performance, and Atomic.
For months, sale speculation has been swirling around the brand.
Shares of Puma SE ticked up in September over buzz that its rival Adidas might be interested in acquiring the brand. Two days later, shares of Puma rose again over speculation that brand management firm Authentic Brands Group and private equity firm CVC would be throwing their hats into the ring.
In November, Puma shares popped up again, this time on rumblings that China’s sportswear firm Anta Sports could be eyeing the German athletic brand. In addition to media outlets citing Anta, Li Ning and Asics were also mentioned as possible bidders. Both Li Ning and Asics reportedly denied that any talks or even evaluations of potential interest were taking place.
The news comes as Puma faces a tough road ahead to turn around its business. In October, Puma logged a third-quarter sales drop of 10.4 percent as its new chief executive officer Arthur Hoeld also outlined his plans for the strategic reset.
Organic sales at Puma fell 10.4 percent in the third quarter to 1.96 billion euros. Earnings before interest and taxes, or EBIT, also collapsed, with both adjusted and reported EBIT falling by more than 80 percent.
The German activewear firm cited a strategic “reset” as it navigates “several company-specific challenges, including muted brand momentum, elevated inventory levels across the trade and low quality of distribution.”
