China’s leading sportswear giant, Anta Sports Products, announced on Tuesday that it has reached an agreement to acquire a 29.06% stake in German athletic brand Puma for €1.51 billion ($1.8 billion).
The deal, struck with the Pinault family’s investment vehicle Artemis, makes Anta the largest shareholder in the historic Herzogenaurach-based company. Anta is paying 35 euros per share in cash—a massive 62% premium over Puma’s closing price on Monday.
While the acquisition cements Anta’s position as a global powerhouse, the company was quick to clarify that it currently rules out a full takeover of the German firm. A Strategic Entry into the ‘Big Three’ The acquisition is a calculated move by Anta to bridge the gap between its domestic dominance and its global ambitions.
By securing a near-controlling interest in Puma, Anta now has a seat at the table with one of the world’s most recognizable sports brands, alongside Nike and Adidas. Industry analysts suggest that Anta intends to leverage its deep understanding of the Chinese retail landscape to revitalize Puma, which has seen its market share in mainland China stagnate at just 7% of its global revenue.
Anta’s leadership believes that with the right operational “empowerment,” Puma’s brand heat can be restored to its former glory. Revitalizing a Struggling Icon Puma has faced a challenging 2025, marked by sluggish sales and the announcement of 900 administrative job cuts.
Investors have been sceptical of recent product launches, including the Speedcat sneaker, which failed to ignite the expected consumer fervor. Anta’s investment is seen as a lifeline and a vote of confidence in Puma’s new CEO, Arthur Hoeld, and his turnaround strategy focused on “brand heat” and cost discipline. Following the news, Puma shares surged as much as 17% in Frankfurt, as the market reacted to the prospect of Anta’s proven track record in turning around Western labels like Fila and Salomon.