Anta Sports Products Ltd announced on Tuesday that it has entered into a share purchase agreement with Groupe Artémis, the investment firm of the Pinault family, to acquire a 29.06 percent stake in the global sportswear giant behind the Puma brand.
The deal for Puma SE, valued at 1.5 billion euros ($1.78 billion), marks a key milestone in Anta Sports' attempts to expand its footprint in the global sporting goods market.
The transaction, which is expected to close by the end of the year, is subject to regulatory approvals and customary closing conditions. The acquisition will be entirely financed through Anta's internal cash reserves.
Anta chairman Ding Shizhon said: "This acquisition positions Anta Sports as the largest shareholder of Puma and is a significant step in our 'single-focus, multi-brand, globalization' strategy."
Ding said Puma's iconic status and rich heritage provide a solid foundation for future growth, while the move would unlock the brand's full potential, driving further global expansion, particularly in markets such as China.
Ding said his group remains confident in the brand's management and strategic direction.
"Our aim is to build a strong, trust-based partnership while maintaining the independence of Puma's operations," he added.
As part of the acquisition, Anta will seek representation on Puma's supervisory board, ensuring alignment with both shareholders and employee representatives.
Anta states that it has no immediate plans for a full takeover of Puma and remains committed to respecting Puma's independent governance and cultural values as a listed German entity. - China Daily/ANN
