ANTA Sports Products agreed on 27 January 2026 to buy a 29.06% stake in Puma from Groupe Artémis, the Pinault family's investment company, for about €1.5bn in cash.
Why ANTA Sports Products Limited is buying PUMA SE (29.06% stake)
ANTA said the investment advances its globalisation strategy and its 'single-focus, multi-brand' model, and argued that Puma's recent share price did not reflect the brand's long-term potential. Puma generates only about 7% of its sales in China, which ANTA sees as room for growth.
“This acquisition makes ANTA Sports the largest shareholder of PUMA.”
Deal terms and financing
ANTA is paying €35 per share for about 43 million shares, roughly 62% above Puma's previous close, entirely from internal cash. It intends to seek adequate representation on Puma's supervisory board and said it has no current plans to make a takeover offer.
Regulatory approvals and timing
The deal needed antitrust clearance, including from China's market regulator, and ANTA shareholder approval. ANTA announced completion on 7 October 2026, according to Pulse 2.0, ahead of its end-2026 target.
Market context
Artémis had described the Puma stake, which the Pinault family took from Kering in 2018, as non-strategic. ANTA already owns Fila, Jack Wolfskin and Kolon Sport and is the largest shareholder of Amer Sports.
