Anta Buys Puma Stake for $1.8 Billion
Anta buys Puma stake, paying about $1.8 billion for 29.06%, financed with internal cash and targeting close by end-2026, shifting ownership and China trade
KEY TAKEAWAYS
- Anta agreed to buy a 29.1% stake in Puma for $1.8 billion and became its largest shareholder.
- Deal financed with internal cash and targets closing by end-2026 pending antitrust and shareholder approvals.
- Anta framed the purchase as part of its multi-brand globalization to boost Puma's China and global growth.
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Anta Sports Products Limited (ANTA) said in a press release on Jan. 27, 2026, that it agreed to acquire a large minority interest in Puma SE, becoming the company’s largest shareholder. The purchase will be financed with internal cash and is expected to close by the end of 2026, subject to regulatory approvals.
Deal Terms and Strategic Intent
ANTA signed a share purchase agreement with Groupe Artémis to acquire a 29.06% stake in Puma SE ordinary shares for €1.5 billion in cash, or about €35 per share. This price represents a 62% premium to Puma’s closing price of €21.63 on Jan. 26, 2026. The transaction will make ANTA Puma’s largest shareholder.
The company said the deal will be financed entirely from its internal cash resources. Closing is expected by the end of 2026, pending antitrust clearances, approval from an ANTA extraordinary general meeting, regulatory approvals in China and other jurisdictions, and customary closing conditions.
ANTA framed the acquisition as a step to accelerate its multi-brand globalization strategy by applying its distribution scale and operational expertise to boost Puma’s growth in China and other markets. The company cited its complementary holdings, including Fila, Descente, and its position as the largest shareholder of Amer Sports, as assets to support Puma’s revitalization.
Ding Shizhong, ANTA board chairman, said, "This acquisition makes ANTA Sports the largest shareholder of PUMA and marks a major step forward in our ‘single-focus, multi-brand, globalization’ strategy." ANTA plans to seek adequate representation on Puma’s Supervisory Board but ruled out a full takeover and intends to preserve Puma’s independence.
