ANTA Sports acquires majority stake in PUMA, becoming principal shareholder

ANTA Sports has solidified its position in the sportswear market by acquiring a 29.06% stake in German competitor PUMA SE. This acquisition makes the Chinese company the principal shareholder of PUMA.

The transaction is intended to support ANTA Sports' internationalization strategy, aiming to unlock PUMA's potential in global markets, including China. ANTA Sports stated that the complementary strengths and management experience of both companies are expected to benefit PUMA.

PUMA's previous parent company, Kering, had confirmed earlier this year its intention to sell its stake. Financial terms of the deal were not disclosed.

ANTA Sports is one of China's largest sportswear manufacturers, with a significant growth trajectory in its domestic market. The acquisition of PUMA represents a major step in its global expansion efforts.