ANTA to buy 29% stake in Puma for US$1.8bn, becoming largest shareholder

Chinese sportswear group ANTA Sports Products has agreed to acquire a 29% stake in global athletic brand Puma from the Pinault family for US$1.8 billion, marking a major step in ANTA’s global expansion strategy.

The transaction will see ANTA become Puma’s largest shareholder, strengthening its presence in international sportswear and lifestyle markets while expanding its multi-brand portfolio beyond China.

In a regulatory filing, ANTA said the investment was driven by Puma’s global brand strength, heritage and reach across both performance and lifestyle categories, describing the business as highly complementary to ANTA’s existing brand portfolio and retail capabilities.

ANTA has built a reputation for managing and scaling multi-brand groups through its “brand + retail” operating model, with experience across brand building, retail execution and supply chain management in both domestic and international markets. The group said it plans to apply this expertise to support Puma’s next phase of growth, while maintaining the brand’s independence and identity.

Following completion, ANTA intends to seek representation on Puma’s Supervisory Board, working alongside existing shareholder and employee representatives. The company said its focus would be on preserving Puma’s brand heritage while helping to unlock long-term value for consumers and shareholders.

ANTA chairman Ding Shizhong said the deal represented a significant milestone in the group’s “single-focus, multi-brand, globalisation” strategy.

“This acquisition makes ANTA Sports the largest shareholder of Puma and marks a major step forward in our globalisation journey,” Ding said. “Puma is an iconic global brand with deep heritage. We look forward to learning from each other and working together to unlock its full potential.”

ANTA also said it believes Puma’s current share price does not fully reflect the brand’s long-term value, expressing confidence in Puma’s management team and strategic direction.

The transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions. ANTA said the acquisition will be fully funded through internal cash resources.