China’s giant sportswear brand ANTA Sports has entered into an agreement to acquire a 29.06% stake in PUMA from Groupe Artémis, the Pinault family’s investment firm.
The deal is valued at €1.5 billion ($1.78 billion), marking a major investment by ANTA into one of the world’s top sportswear brands.
The deal would position ANTA as PUMA’s largest shareholder. However, the company says it has “no current plans” to pursue a full takeover, which German law requires once ownership hits 30%.
As the move rippled through the global business scene, PUMA shares surged up to 20% early Tuesday after the ANTA Sports stake purchase announcement, before easing to a 4.3% gain by 11:06 SAST.
ANTA Sports expands its portfolio with this move, adding to an already impressive lineup that includes Arc’teryx, Salomon, Wilson, Peak Performance, and Atomic.
The deal is expected to close by year-end, pending regulatory approval, as PUMA continues working to revive sales under new leadership.
