Anta Buys 29% Stake in Puma for $1.8B in Major Sportswear Deal

Chinese sportswear giant Anta Sports has agreed to acquire a 29.06% stake in Puma for €1.5 billion ($1.8 billion), marking one of the most significant recent investments in the global sports apparel market.

The stake is being purchased from Artémis, the Pinault family’s holding company, and will make Anta Puma’s largest shareholder. However, Anta will remain below the 30% threshold that would trigger a mandatory takeover offer under German law. The deal is expected to close later this year, subject to regulatory approvals.

Puma shares jumped sharply following the announcement, reflecting investor optimism that the partnership could support the German brand’s ongoing turnaround. Puma has been working to revive sales and brand momentum under CEO Arthur Hoeld, with restructuring measures that include job cuts, tighter product focus and a marketing reset.

For Anta, the move strengthens its international expansion strategy and adds another major global brand to its multi-brand portfolio. The company has previously built a strong track record through overseas acquisitions, most notably Amer Sports, as it seeks to diversify beyond China and grow its presence in Europe and the Americas.

Strategically, the deal brings together two brands with complementary geographic strengths: Puma has a solid footprint in Europe and Latin America, while Anta continues to build scale outside its domestic market. The investment also positions Anta in the mass-market performance and sports lifestyle segment, broadening its reach across global consumer tiers.

The transaction reflects wider momentum in global sports industry dealmaking, as brands look to reposition portfolios, unlock value and adapt to shifting consumer demand and competitive pressure ahead of a major cycle of international sporting events.