ANTA Sports becomes PUMA's largest shareholder

ANTA Sports Products Ltd completed its acquisition of a 29.06 percent stake in PUMA SE, becoming the German sportswear company's largest shareholder as the Chinese sportswear group advances its global expansion strategy.

The Hong Kong-listed company said on Wednesday that it completed the 1.51 billion euro ($1.69 billion) all-cash purchase of the stake from Artemis SAS, the investment company of the Pinault family, after receiving all required regulatory approvals and satisfying customary closing conditions.

The investment marks the group’s biggest overseas strategic move in recent years.

ANTA said it plans to support PUMA's long-term development by sharing its experience in brand management, retail operations, and global resource integration, while maintaining PUMA's independence.

ANTA Chairman Ding Shizhong said the global sporting goods industry continues to offer significant growth opportunities as participation in sports and demand for active lifestyles increase worldwide.

"ANTA Sports has built its success on a multi-brand strategy," Ding said. "We believe the value of a multi-brand group lies in helping each brand realize its full potential by leveraging the capabilities and resources of the broader group."

PUMA CEO Arthur Hoeld described the investment as a vote of confidence in the sportswear maker's strategy and long-term prospects.

"We look forward to building a fruitful relationship and exploring areas where our respective strengths can create sustainable value for PUMA and its shareholders on our journey to become a top three global sports brand," Hoeld said.