ANTA Sports Products has agreed to acquire a 29.06% stake in PUMA in a €1.5bn, or roughly $1.6bn, all-cash transaction.

The stake is being acquired from Groupe Artémis, the investment company of the Pinault family, and will make ANTA the largest shareholder in the German-listed sportswear group. The transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions.

ANTA said the investment will be fully financed using internal cash resources and confirmed that it has no current plans to launch a takeover offer for PUMA. Instead, the Chinese sportswear group intends to support PUMA’s existing management, strategy, and independent brand identity.

“This acquisition makes ANTA Sports the largest shareholder of PUMA and marks a major step forward in our ‘single-focus, multi-brand, globalisation’ strategy,” said Ding Shizhong, board chairman of ANTA Sports. “PUMA is an iconic global brand with substantial heritage. Working with PUMA, we look forward to learning from each other and joining hands to fully unlock the brand’s full potential.”

ANTA said it intends to seek appropriate representation on PUMA’s supervisory board, while respecting the company’s governance structure as a German-listed business. The group added that any further deepening of the partnership would be carefully assessed over time.

Founded in 1991, ANTA has built a multi-brand portfolio spanning mass-market and premium sportswear, including Fila, Descente, and Jack Wolfskin. It is also the largest shareholder in Amer Sports, whose brands include Arc’teryx and Salomon.

PUMA, which employs about 20,000 people worldwide and distributes products in more than 120 countries, is known for its strong positioning in football, running, training, basketball, and motorsports. 

ANTA said the two companies’ product portfolios and regional footprints are highly complementary.

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