Sportswear company Anta Sports Products Ltd. (2020.HK) said on Wednesday it completed its 1.5 billion euro ($1.68 billion) purchase of 29% of German peer Puma SE from Artémis SAS, further expanding its global footprint. Following the purchase, first announced in January, Anta has become Puma’s single largest shareholder.
Anta said it will provide Puma with its expertise built over the years in management, retail and global resource integration capabilities. Anta said it “fully respects” Puma’s sports heritage, brand identity and corporate culture. It added it will seek “adequate representation” on Puma’s board following the stake purchase.
Anta’s other overseas assets include 38% of Amer Sports (AS.US), whose brands include Arc’teryx outdoor wear and Wilson tennis gear. It also holds China rights for several global sports brands, including Fila and Descente.
Anta’s stock rose 0.6% on Thursday to close at HK$71.80. The stock is down 10.6% this year.
By Doug Young
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