China’s Anta Becomes Largest Puma Shareholder, Pledges to Boost Brand in China

SHANGHAI/FRANKFURT — China’s leading sportswear company Anta Sports has acquired a 29% stake in German brand Puma for €1.5 billion ($1.8 billion), becoming the largest shareholder in the struggling athletic footwear and apparel maker.

The deal, purchased from the Pinault family’s Artemis investment vehicle, is designed to help Puma expand its presence in China, where it currently generates just 7% of global revenue. Anta, already the owner of Fila and the majority shareholder of Amer Sports, said it would bring its experience in marketing and retail to help Puma regain competitiveness internationally.

“This investment reflects our confidence in Puma’s brand and its potential to grow in China and globally,” said Wei Lin, Anta’s vice president for sustainability and investor relations. “We have insight on how to make Puma more successful in one of the world’s largest sportswear markets.”

Puma, which has struggled against Nike, Adidas, and newer sneaker brands, saw its shares rise 9% after the announcement, though prices remain near a decade low. The acquisition includes cash payments of €35 per share, representing a 62% premium over Puma’s closing share price before the deal was announced.

Puma CEO Arthur Hoeld said the partnership would support the company’s long-term strategy, including marketing reforms and product line rationalization. While Anta will seek board representation, it has ruled out a full takeover. Puma is scheduled to report its fourth-quarter results on February 26, providing the first public insight into its ongoing turnaround plan.

Anta’s prior acquisitions, including Salomon and Wilson under Amer Sports, demonstrate its ability to revitalize Western brands, giving investors confidence that a similar approach could strengthen Puma’s market share in China and beyond.