Anta Agrees to Buy 29.06% of Puma for €1.51 Billion, Becomes Largest Shareholder

Anta Sports Products announced on Jan 27 that it has agreed to purchase a 29.06% stake in Puma from the Pinault family’s Artms holding company for 1.51 billion euros. Under the terms disclosed in a stock exchange filing, Anta will acquire 43 million Puma shares for 35 euros each in cash, a payment that positions the Hong Kong-listed group as Puma’s largest shareholder.

Earlier this month it emerged that Anta had offered to buy roughly 29% of Puma from the Pinault family and had arranged financing for the proposed acquisition, although discussions had previously stalled over valuation. The newly announced agreement formalizes that proposal into a definitive purchase.

Artms, managed by Franois-Henri Pinault, who is chairman of luxury group Kering, has characterized its stake in Puma as non-strategic. The Pinault family acquired the holding from Kering in 2018 when that group repositioned itself as a pure luxury operator.

Puma has been under pressure as consumer demand softened. Recent sneaker releases, including the Speedcat, have not delivered the market momentum company executives had anticipated. Arthur Hoeld, who became CEO last year, has outlined a turnaround strategy centered on reviving brand heat, strengthening performance product lines and enforcing cost discipline.

The transaction remains conditional. Anta noted that completion depends on obtaining antitrust clearances, securing approval from its own shareholders at an extraordinary general meeting and receiving other regulatory approvals in China and elsewhere. The company indicated it expects to convene the shareholder meeting and will target closing after the listed conditions are satisfied.

Financial terms translated into U.S. dollars indicate the purchase price amounts to roughly $1.79 billion based on the exchange rate provided of $1 = 0.8421 euros. The announcement does not add new operational details about Puma’s turnaround plan beyond the objectives already described by its management.

Context and implications

The acquisition will make Anta the largest individual shareholder in Puma and represents a significant cross-border investment in a European sportswear company by a Chinese-listed firm. For Puma, the ownership change could alter shareholder dynamics while the company attempts to restore sales growth and investor confidence under its new leadership.