Anta Sports announced on January 26 that it has entered a conditional agreement to purchase 43,014,760 ordinary shares of Puma SE — roughly 29.06% of the German sportswear group's issued share capital — for €35 per share, a total consideration of €1,505,516,600 (about RMB 12.28 billion). The transaction was filed on the Hong Kong Stock Exchange and, according to Anta's disclosure, remains subject to the usual conditions set out in the share-purchase agreement.
The deal marks a striking move by one of China’s largest sportswear manufacturers to deepen its footprint in a major European global brand. Anta, a company founded in 2007 and wholly owned by Anta Investment, has built a string of international and domestic brands and investments. Company filings list Ding Shijia as its legal representative and show a diversified stable of subsidiaries and investments across manufacturing, logistics and retail.
Puma already has an established presence in China: its local trading arm, Puma (Shanghai) Trading Co., was set up in 2005 and remains a wholly owned subsidiary of Puma Hong Kong Limited, operating more than eighty retail outlets and concessions across Chinese cities. A nearly 30% block of Puma’s stock would give Anta a substantial economic stake and potentially meaningful influence over strategic discussions without immediately seizing control.
The precise size of the stake is notable for regulatory and corporate-governance reasons. At 29.06% Anta sits just below Germany’s 30% threshold that would normally trigger a mandatory takeover offer under the German Securities Acquisition and Takeover Act. That positioning allows Anta to become the largest single shareholder in effect while avoiding the formal obligations of a full offer, at least for now.
Strategically, the acquisition could accelerate Anta’s internationalisation and brand-building ambitions. Anta has previously raised the profile of premium labels in China through capital, distribution and marketing support; a minority stake in Puma would create opportunities for cooperation on design, supply chains and sponsorships, and give Anta access to Puma’s European R&D and brand cachet. At the same time, the deal raises familiar integration risks and governance questions, and will attract scrutiny from investors and regulators monitoring cross-border acquisitions of prominent Western consumer brands.