Chinese sportswear manufacturer Anta Sports Products said on Tuesday it has struck an agreement to purchase approximately 29% of Puma SE from the Pinault family’s investment vehicle, Artemis, for about €1.5 billion ($1.78 billion).
In a statement filed to the Hong Kong Stock Exchange, Anta confirmed it will buy 43 million Puma shares in cash at a price of €35 per share. The per-share price equals a 61% premium relative to Puma’s closing price on Monday.
The transaction is being executed with Artemis, the Pinault family’s investment arm. Artemis is led by Francois-Henro Pinault, who also serves as chairman of the fashion group Kering SA (EPA:PRTP). Anta’s announcement follows media reports earlier in January that indicated a deal between Anta and Puma was close.
Anta framed the acquisition as a measure to support Puma, noting the German sportswear company has experienced steadily deteriorating sales in recent years. The statement said Anta will collaborate with Puma to maintain the company’s "strong brand identity and heritage" and to help Puma "fully realize its brand potential."
The company highlighted its track record of taking on and revitalizing western consumer brands. Anta’s portfolio already includes brands such as Wilson, Precor, and Atomic, and the group said it will work with Puma under the same intent to preserve brand characteristics while pursuing growth.
Anta has pursued a stake in Puma for several years; public reports indicate interest dating back to at least 2019. The deal is structured as an all-cash purchase at the stated per-share price, and the agreement was announced via Anta’s disclosure to the Hong Kong bourse.
Context and market implications
- Puma - as the target of the transaction - faces the immediate challenge of reversing a trend of weakening sales.
- The acquisition adds to Anta’s portfolio of western brands and signals further expansion of Chinese sportswear groups into established European names.
- The transaction involves significant capital deployment - about €1.5 billion - and includes a notable premium to the recent market close.