Anta Sports Products Limited confirmed early Tuesday in China that it has signed an agreement with Groupe Artémis, the investment company of the Pinault family, to acquire a 29.06 percent stake in Puma SE. The deal is valued at 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 stated. Anta emphasized 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 other supervisory board members, including both shareholders’ and employee representatives, while preserving Puma’s strong brand identity and heritage, Anta noted.
Furthermore, Anta 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. Financial News 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 their ‘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 compromising independence. We look forward to supporting the brand’s ongoing revival.”
Anta was established in 1991 and officially listed on the main board of Hong Kong Exchanges and Clearing Limited in 2007. Its 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 Puma. Shares of Puma SE ticked up in September amid rumors that rival Adidas might be interested in acquiring the brand. Two days later, shares rose again over speculation that brand management firm Authentic Brands Group and private equity firm CVC were considering bids.
In November, Puma shares surged once more amid rumors that China’s sportswear firm Anta Sports was eyeing the German athletic brand. Other possible bidders mentioned by the media included Li Ning and Asics. Both Li Ning and Asics reportedly denied any talks or evaluations of potential interest.
The news comes as Puma faces challenges ahead in turning around its business. In October, Puma logged a third-quarter sales drop of 10.4 percent. Its new chief executive officer, Arthur Hoeld, also outlined plans for a strategic reset.
Organic sales at Puma fell 10.4 percent in the third quarter to 1.96 billion euros. Earnings before interest and taxes (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.
https://wwd.com/footwear-news/shoe-industry-news/anta-sports-puma-acquisition-artemis-1238525739/