China’s Anta Sports Reportedly Offers to Buy 29% Stake in Puma
Continuing a push towards a western expansion.
Summary
- Anta Sports has secured financing to acquire a 29% stake in Puma from the Pinault family (Artemis), though negotiations have reportedly “stalled”
- Artemis is holding out for over €40 EUR ($47 USD) per share, a significant premium given Puma’s recent 50% drop in market value amid tough competition from On and Hoka
- This move aligns with Anta’s history of acquiring Western assets, while Artemis seeks to offload the “non-strategic” stake to manage debt from other ventures
Anta Sports is making a major play for a 29% stake in Puma, reportedly offering to buy out the Pinault family’s holding company, Artemis. According to Business of Fashion, the Chinese sportswear giant, known for backing the Amer Sports consortium including Salomon, Arc’teryx, has already secured financing for the acquisition, though negotiations have currently “stalled.”
The potential deal arrives as Puma battles a 50% drop in market capitalization, with new CEO Arthur Hoeld struggling to reverse revenue decline. Despite attempts to revive the brand with silhouettes like the Speedcat, Puma has lost ground to competitors like On and Hoka. Artemis is reportedly holding out for an offer exceeding €40 EUR (approximately $47 USD) per share, significantly above recent trading numbers.
This move follows Anta’s proven playbook of acquiring Western assets to scale globally. No official comments have been released by either party regarding the ongoing talks.
