Anta sports Reportedly Exploring Bid for German Sportswear Giant Puma
FRANKFURT, Germany – Chinese sportswear manufacturer Anta Sports Products is considering a potential takeover of German athletic apparel and footwear company Puma, according to reports from Bloomberg and Reuters on Thursday. Anta Sports, the world’s third-largest sporting goods company by revenue, has engaged a consultant to evaluate a bid and is exploring a potential partnership with a private equity firm should it proceed.
The news sent Puma shares soaring 12% in pre-market trading. Puma declined to comment on the reports when contacted by Reuters.
Anta Sports’ interest comes as Puma navigates a challenging period marked by declining demand and increased competition. The company recently announced a turnaround plan in October, spearheaded by new CEO Arthur Hoeld, which includes reducing discounts, streamlining marketing efforts, cutting 900 corporate jobs, and reducing its product range.
Puma’s controlling shareholder,Artemis – the private holding company of the Kering group – is currently evaluating options for its 29% stake in the company. A source close to Artemis indicated in September that a sale at current market value was unlikely. Puma’s current market capitalization stands at €2.52 billion.
Other potential bidders are also reportedly considering an offer. Bloomberg reports that Chinese competitor Li-Ning has discussed financing options with banks, while Japanese sportswear firm ASICS has also expressed preliminary interest. Li-Ning stated to reuters that it “has not commenced any substantive negotiations or evaluations regarding the transaction mentioned in the news,” and remains focused on its own brand development. Anta Sports and ASICS have not yet responded to requests for comment from Reuters.
The Pinault family, controlling Artemis, acquired a stake in Puma in 2018 as Kering shifted its focus exclusively to luxury brands like Gucci and Saint Laurent. Puma’s share price has fallen by 50% since the beginning of the year, impacted in part by US customs duties on imports, as reported by Hotnews.ro.
