Anta Sports Becomes Puma’s Largest Shareholder in $2.57 Billion

Anta Sports Products (2020.HK), China’s largest sportswear manufacturer, has formalised an agreement to acquire a 29.06% stake in German sportswear giant Puma SE, becoming its largest single shareholder.

The announcement sees Anta purchasing 43 million shares from Artemis, the investment vehicle of the Pinault family, for EURO1.5 billion (AUD2.57 billion), representing a 62% premium over Puma’s previous closing price.

The rationale behind the deal centres on Anta’s “single-focus, multi-brand, globalisation” playbook. Already the parent company of Fila (China) and the largest shareholder of Amer Sports (Salomon, Arc’teryx), Anta intends to leverage its retail expertise to revitalise Puma’s presence in China, where the brand currently generates only 7% of its global revenue.

For Puma, the deal provides a vital capital injection and a “vote of confidence” as it navigates a challenging “transition year” in 2026.

Commenting on their acquisition as Puma’s largest shareholder, Anta chairman, Ding Shizhong, said: “This acquisition marks a major step forward in our globalisation strategy.”

“Puma is an iconic global brand with substantial heritage. We look forward to joining hands to fully unlock the brand’s potential and drive the next chapter of growth in global markets including China,” Shizhong said.

Welcoming the move as a strategic alignment, Puma CEO, Arthur Hoeld, said: “We see this as a vote of confidence in Puma and our strategic direction.”

“Anta’s expertise will empower us to realise our brand potential and create long-term value,” Hoeld added.

Market Dynamics and Implication

The acquisition comes at an important era for Puma, which has struggled to maintain pace with market leaders Nike and Adidas, as well as surging newcomers like On Running.

Puma CEO Arthur Hoeld, who took the helm in July 2025, is currently overseeing a “restructuring phase” involving 900 job cuts and a reduction in product lines to improve brand heat.

Anta executives believe Puma is “underrepresented” in the Asia-Pacific region. Anta Global VP, Wei Lin, noted that Anta’s “Brand + Retail” model, which successfully scaled Fila, will be the blueprint for Puma’s Chinese expansion.

Anta has explicitly stated it has no plans for a full takeover, opting instead to seek representation on Puma’s Supervisory Board while preserving the brand’s independent German governance.

The organisation anticipates the transaction will close by the end of 2026, pending regulatory and antitrust clearances.

Investors are now looking toward 26 February 2026, when Puma is scheduled to report its Q4 results, providing the first fiscal health check since the Anta partnership was formalised.

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