Chinese sports goods manufacturer Anta Sports is acquiring a controlling stake in the German brand Puma for $1.79 billion. This was announced in a statement to the Hong Kong Stock Exchange, writes Reuters. The deal will allow the Chinese giant to significantly expand its presence in the global sports apparel market, far beyond China.
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Anta noted that the acquisition of a stake in Puma should strengthen the brand's recognition and its position in the global market, including in China. Anta Chairman Ding Shizhong stated that, in his opinion, Puma's stock price in recent months does not reflect the company's true long-term potential.
However, Anta emphasized that they do not plan a full takeover of the legendary German brand. The deal still needs approval from regulatory bodies, and under favorable conditions, it is planned to be completed by the end of the year.
Anta is based in the southeastern Chinese province of Fujian and is among the world's largest manufacturers of sports apparel. The company was founded in 1991 and, through its subsidiary Amer Sports, owns a number of well-known international brands, including Wilson, Arc'teryx, and Salomon. Additionally, Anta controls the rights to operate in the Chinese market for foreign brands such as Fila and Descente.
According to data from the analytical company Euromonitor International, Anta ranks third globally among sports apparel brands, trailing only Nike and Adidas. The stake in Puma being acquired by Anta previously belonged to the Artemis group, controlled by the family of French billionaires Pinault.
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