China’s Anta acquires stake in Puma: what the deal means and why it matters
27 January 17:51
Chinese sportswear manufacturer Anta Sports will become the majority shareholder of German brand Puma, buying 29% of shares from the Pinault family for €1.5 billion. The deal was reported by Reuters , according to "Komersant Ukrainian".
Anta will pay €35 per share, which represents a 62% premium to the closing price in Europe on January 26 (€21.63). The market reaction was immediate: Puma shares rose 17%, while Anta shares rose more than 3% at the start of trading in Hong Kong.
Why Puma is selling its stake right now
The sale comes at a time when Puma is trying to regain its position in the global sportswear market. In recent years, the brand has lost market share to key competitors, primarily Nike, as well as fast-growing players such as New Balance and Hoka.
Against this backdrop, investors were skeptical about the German company’s prospects, which explains the Pinault family’s willingness to divest part of the asset in exchange for a substantial premium.
What Puma will get from Anta
The partnership with Anta is expected to help Puma strengthen its presence in mainland China, one of the most profitable and dynamic sportswear markets in the world.
Anta is actively developing a multi-brand model, combining global brands with local expertise in distribution, marketing, and manufacturing. It is this experience that could be key for Puma in the battle for Chinese consumers.
Citigroup analysts believe that “the implementation of the agreement and the rapid expansion of Anta’s influence after the acquisition inspire confidence in the possible revival of Puma’s business.”
What this means for Anta
For Anta, the deal is another step towards becoming a global player, rather than just a regional champion. The company already owns brands such as Fila, Jack Wolfskin, Kolon Sport, and Maia Active, and is the largest shareholder in Amer Sports, which includes Salomon, Wilson, Peak Performance, and Atomic.
Anta emphasizes that it does not plan to completely take over Puma, but after the deal is completed, it will seek a seat on the German company’s board of directors, which will allow it to influence strategic decisions.
Regulatory risks
The deal requires antitrust approval from regulators in China and other jurisdictions. Anta says the deal will close after all necessary conditions are met and is expected by the end of 2026.
Until then, investors and the market will be watching closely to see whether Puma can use Anta’s interest as an opportunity to relaunch the brand — and whether the deal will face political or regulatory hurdles amid growing scrutiny of Chinese investment in Europe.
