A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (REUTERS File Photo)
China's Anta Sports Group on Tuesday announced that it reached a deal with Groupe Artémis, the investment company of France's Pinault family, to acquire a 29.06% equity interest in German sportswear brand Puma.
Anta Sports Group, which already owns brands such as Wilson and Salomon, said in a statement that it had "conditionally agreed to purchase, and [Groupe Artémis] has conditionally agreed to sell, a total of 43,014,760 ordinary shares."
The stake is valued at €1.5 billion ($1.78 billion) in cash.
The transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions.
Anta Sports confirmed that the acquisition will be fully financed through its internal cash resources, underscoring the group's financial strength and commitment to strategic global investments.
Looking ahead, Anta Sports stated that it will carefully evaluate opportunities to further deepen its partnership with Groupe Artémis. However, the group emphasized that it currently has no plans to make a takeover offer for Puma.
Puma, which is based in southern Germany, in late 2025 announced it would cut some 900 administrative jobs by the end of 2026 amid disappointing results.
