Anta Sports to Acquire Major Stake in Puma from Pinault Family

Anta Sports Products, China's top sportswear brand, has announced its plan to purchase a 29.06% stake in Puma for 1.5 billion euros, becoming the largest shareholder. This acquisition is anticipated to boost Puma's presence in China and enhance Anta's global reach.

China's leading sportswear brand, Anta Sports Products, has revealed its intention to acquire a 29.06% share in Puma from the Pinault family's Artemis for 1.5 billion euros. This strategic move positions Anta as the largest stakeholder in the renowned German sportswear company.

The acquisition deal, priced at 35 euros per share, assists Artemis in managing its debt while boosting share values for associated companies like Kering. Initial market reactions saw a surge in Puma's shares but later steadied at a 3% increase, against historical lows.

Puma, currently striving to revitalize its brand in the competitive market against giants like Nike and Adidas, aims to exploit its underrepresented potential in China. Anta's expertise promises a significant expansion and uplift in Puma's market strategy, while Artemis reallocates resources to focus on lucrative segments.

(With inputs from agencies.)