Leading sportswear makers Anta Sports Products Ltd. (2020.HK) and Li Ning Co. Ltd. (2331.HK) are considering bids for German sport brand Puma, according to media reports, citing unnamed people familiar with the matter.
Anta is working with an advisor to evaluate a possible bid, and could make such a bid with a private equity partner to finance the deal, according to a Bloomberg report, citing unnamed sources. Li Ning is discussing financing options with banks for its own potential bid, the report said. Other potential bidders could include Japan’s Asics.
Puma is controlled by France’s Pinault family, which owned 29% of the German brand at the end of last year. Anta did not respond to requests for comment, while Li Ning said the company hasn’t held any “substantive” negotiations regarding Puma.
Both Anta and Li Ning have taken steps to move beyond their home China market, with Anta as the more aggressive of that pair. A group led by Anta paid $5.2 billion in 2019 for Amer Sports (AS.US), whose brands include Arc’teryx and Wilson. Reports also emerged earlier this year that Anta was in talks to buy the U.S. Reebok brand, though the brand’s owner, Authentic Brands, denied those reports.
Anta shares closed down 0.9% on Friday, and are up 8.6% this year. Li Ning closed down 1.4%, and is up 5.5% this year.
By Doug Young
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