China’s Anta Sports to buy major Puma stake in US$1.79bn deal, becoming a top shareholder

A major deal is shaking up the sportswear industry, with China’s Anta Sports finalising an agreement to acquire a sizeable stake in Germany’s Puma, becoming a major shareholder.

Reuters reported that Anta Sports, a Chinese sports shoe and apparel giant, has agreed to buy 29.6% of Puma from Artémis, the Pinault family’s holding company, in a transaction valued at more than US$1.79 billion. The move would make Anta one of Puma’s largest shareholders.

In a filing to the Hong Kong stock exchange, Anta—listed in Hong Kong—said it would pay for 43 million Puma shares in cash at a price of 35 euros per share.

Reuters previously reported in early January that Anta had offered to buy about 29% of Puma from the Pinault family and had already arranged financing for the acquisition, although talks were temporarily stalled due to differences over valuation.

The transaction comes at a time when the German sportswear brand is working to revive sales and restore investor confidence under its new chief executive, Arthur Hoeld.

Artémis, run by François-Henri Pinault, chairman of luxury group Kering, has said previously that its stake in Puma was not a strategic investment. The Pinault family received the stake from Kering in 2018, when the group repositioned to focus solely on luxury goods.

Puma has been under pressure from sluggish sales, while the launch of new footwear models—including the Speedcat—has not generated the momentum management had hoped for.

Hoeld, who took up the role last year, has laid out a turnaround strategy focused on building brand momentum, developing high-performance products, and enforcing strict cost control.

However, the agreement still requires approvals from antitrust regulators, Anta’s shareholders, and regulators in China and other relevant jurisdictions.

Anta said it expects to convene an extraordinary general meeting (EGM) and aims to complete the deal once all conditions have been met.