Finance
China's Anta Sports buys 29% Puma stake for $1.8 billion, rules out full takeover
Published by Global Banking & Finance Review®
Posted on January 27, 2026
4 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 27, 2026
4 min readLast updated: January 27, 2026
Anta Sports acquires a 29% stake in Puma for $1.8 billion, aiming to boost Puma's sales in China and expand Anta's global presence.
By Scott Murdoch and Roushni Nair
Jan 27 (Reuters) - China's biggest sportswear brand Anta Sports Products said on Tuesday it would buy a 29.06% stake in Puma from the Pinault family for 1.5 billion euros ($1.8 billion), making it the biggest shareholder in the German sportswear maker.
The deal is expected to help Puma increase its sales in the lucrative Chinese market, and help Anta in its quest to become a more globalised business.
The $27.8 billion Hong Kong-listed sportswear company will pay 35 euros per share in cash to Pinault family holding company Artemis, which also controls Paris-listed luxury conglomerate Kering.
The deal will help Artemis reduce its high debt load.
The offer represents a 62% premium to Puma's closing share price of 21.63 euros on Monday, and comes as the German firm seeks to revive its fortunes after it lost ground to Nike and Adidas. It also faces competition from fast-growing brands like New Balance and Hoka.
Reuters was the first to report the deal earlier this month.
"We believe Puma's share price over the past few months does not fully reflect the long-term potential of the brand," Ding Shizhong, Anta's chair, said in a statement.
"We have confidence in its management team and strategic transformation."
Puma shares jumped 15% in premarket trading, while Anta shares were up 1.6% in late afternoon trade, versus a 1.3% rise for the broader Hong Kong index.
Anta, which has a track record of acquiring and revamping Western sports and lifestyle brands, said Puma was a global business which was complementary to its existing brands and could increase its international competitiveness.
Anta owns Fila, Jack Wolfskin, Kolon Sport and Maia Active. It is also the largest shareholder of Amer Sports which includes Salomon, Wilson, Peak Performance and Atomic.
"Anta's strong post-acquisition execution and operational empowerment have also given us confidence in its revitalization of Puma business in the future," Citigroup analysts said in a research note on Tuesday.
Anta said it would seek Puma board seats once the deal was finalised but would not seek a full takeover of the company.
The transaction comes as the German sportswear group struggles to revive sales and investor confidence under its new CEO, Arthur Hoeld.
Puma has been under pressure as demand has weakened, and recent footwear launches, including the Speedcat, failed to generate the momentum executives had hoped for. Hoeld, who took over last year, has outlined a turnaround focused on brand heat, performance products, and cost discipline.
In October, Puma said it would provide fewer discounts, improve marketing and cut its product range, in addition to cutting 900 jobs as part of a turnaround strategy.
Reuters reported in early January that Anta had offered to buy about 29% of Puma from the Pinault family firm and had secured financing for the acquisition, although talks at the time had stalled over valuation.
Artemis, run by Francois-Henri Pinault, chairman of Kering, had previously described its Puma stake as non-strategic. The Pinault family took the holding from Kering in 2018, when the group repositioned itself as a pure luxury player.
"This disposal is consistent with the ongoing strategy implemented by Artemis to focus on controlled assets and to redeploy its resources towards new value-creating sectors," Artemis said in a statement.
The deal is subject to antitrust clearances, shareholder approval at Anta, and regulatory approvals in China and other jurisdictions. Anta said it expects to convene an extraordinary general meeting, with closing targeted after conditions are met.
($1 = 0.8421 euros)
(Reporting by Scott Murdoch in Sydney and Roushni Nair in Bengaluru, Additional reporting by Tassilo Hummel in Paris; Editing by Rashmi Aich, Anne Marie Roantree, Thomas Derpinghaus and Kate Mayberry)
A stake in a company refers to the ownership interest that an individual or entity has in that company, typically represented by shares of stock.
Market reaction refers to the response of investors and traders to news or events that affect a company's stock price, often reflected in trading volume and price changes.
Corporate strategy is the overarching plan that guides a company's decisions and actions to achieve its long-term goals and objectives.
In finance, a premium refers to the amount paid over the market price for an asset, often reflecting its perceived value or potential.
A shareholder is an individual or institution that owns shares in a company, giving them a claim on part of the company's assets and earnings.
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