Anta Sports apparel maker seeks international M&A

Anta Sports Products Ltd, China's largest athletics apparel company, said it is seeking to buy international sportswear brands as the country's growing middle class becomes more health-conscious and physically active.

The company is looking for brands with "history" to complement its own offering, Chief Financial Officer Jim Lam said in an interview in Hong Kong on Monday. "Anta's brand is famous enough in China's mass market, so we are more interested in acquiring higher-end brands."

China's sportswear industry is seeing a boom even as the economy slows as more Chinese engage in sports. Anta, which has a market value of about HK$49 billion ($6.3 billion), formed a joint venture with Descente Ltd and Itochu Corp earlier this year to design and sell Descente-branded items in China.