Anta Sports completes €1,505.5 million purchase of 29.06% Puma stake

Deal terms

Anta paid €1,505.5 million in cash for the 29.06% stake, which WWD put at about $1.8 billion. The closing followed all relevant regulatory approvals and customary conditions, Anta said. Anta now holds more than 43 million Puma ordinary shares. The deal was first announced in January.

Anta said it will seek 'adequate representation' on Puma's supervisory board, as previously announced, and that it currently has no plans to make a takeover offer. The announcement gave no number of seats or timetable. The no-bid line matters because Bloomberg had reported that Anta was among firms exploring a potential takeover of Puma, working with an adviser and possibly teaming up with a private equity firm.

Artemis held about 29% of Puma at the end of 2024, according to Puma's annual report. Francois-Henri Pinault, described by WWD as Artemis chairman and by Bloomberg as managing partner at Artemis, said in September that the holding was 'interesting' but 'isn't strategic', and that options were being kept open.

Ding Shizhong, Anta's board chairman, called the position that of a 'long-term strategic partner'. He said Anta would share its retail and operations experience 'while respecting PUMA's independence and brand identity'. Arthur Hoeld, Puma's chief executive, called the commitment 'a strong vote of confidence in our strategy, our management team and our future'. Puma said it continues to operate as an independently managed company. Pinault said Artemis 'has been proud to support' Puma over the past eight years, WWD reported. Artemis received the shares it sold in May 2018, when Kering distributed them to its shareholders alongside its ordinary dividend for that year.

Puma's turnaround

Puma reported second-quarter revenue of €1.69 billion, down 9.7%, or 9.4% in currency-neutral terms, WWD reported. The company aims to return the brand to growth by 2027. Bloomberg reported that Puma has been trying to revamp itself under Hoeld after failing to generate much enthusiasm for its products with consumers in recent years.

Puma shares had fallen 62% in Frankfurt in 2025, giving the company a market value of €2.5 billion, while Anta had gained 9% in Hong Kong in 2025 for a market value of nearly US$31 billion, according to Bloomberg. The €1,505.5 million paid for 29.06% implies an equity value of about €5.2 billion, more than double the €2.5 billion market value recorded after that 2025 slide.

Anta's multi-brand push

Anta said it will support Puma's potential across global markets including China, citing complementary strengths and multi-brand management experience. Anta said it will bring management, retail and global resource integration capabilities to Puma. It said the investment strengthens its international profile, reach and competitiveness in the global sporting goods market. Its portfolio includes Anta, Fila, Descente, Kolon Sport, Maia Active and Jack Wolfskin, and it is the largest shareholder of Amer Sports. An Anta-led consortium including FountainVest Partners paid US$5.2 billion for Amer Sports in 2019. Anta was founded in 1991 and listed in Hong Kong in 2007. It called the purchase a milestone in its 'single-focus, multi-brand, globalization' strategy.