China’s Anta snags Puma from France’s Pinault family in US$1.8 billion deal

Anta Sports, China’s largest sportswear firm, is acquiring 29 per cent of German brand Puma from Groupe Artemis of the Pinault family, one of France’s wealthiest, for €1.5 billion (US$1.8 billion).The Fujian-headquartered group said on Tuesday the deal would “accelerate” its multi-brand globalisation strategy, adding it had no plans to pursue a full takeover or make an offer for Puma Hong Kong. The deal is expected to be completed by the end of the year.“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, chairman of the group.“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.”The transaction adds to Anta’s string of acquisitions since 2018, including the US$6.4 billion purchase of Finland-based Amer Sports – which owns Arc’teryx, Salomon and Wilson – Chinese athleisure brand Maia Active, and German outdoor label Jack Wolfskin, acquired for US$250 million.The deal adds to Anta’s string of acquisitions since 2018. Photo: Getty ImagesThe Pinault family, which controls global luxury group Kering – owner of brands like Bottega Veneta, Gucci and Saint Laurent – acquired Puma’s controlling stake in 2007. Since then it has reduced its stake but remained its single largest shareholder.