Chinese sportswear group Anta has struck an agreement with Artemis, the investment company of France’s Pinault family, to acquire a 29.06% stake in the enterprise that owns German sportswear brand Puma for EUR1.5 billion (USD1.74 billion). Fangda Partners, Freshfields, Germany’s Noerr and French law firm Darrois Villey Maillot Brochier (DVMB) acted as legal advisers on the transaction.
The deal is expected to close before the end of 2026 and will be fully funded by Anta’s internal cash reserves. On completion, Anta will become Puma’s largest shareholder. In a press release, Anta board chairman Ding Shizhong said the acquisition “will further accelerate Anta Sports’ globalisation”.
Fangda advised Anta on PRC law matters, with a team led by partners Michael Han, Jeffrey Ding and Christian Peng. Freshfields acted as Anta’s international counsel, led by Germany-based partner Sabrina Kulenkamp and global managing partner Rick van Aerssen.
Noerr and DVMB advised Artemis on the transaction. Munich-based partner Michael Brellochs led the Noerr team, while DVMB’s team was jointly led by Paris partners Bertrand Cardi and Christophe Vinsonneau.
Anta said in its press release that it intended to seek representation on Puma’s supervisory board following completion of the transaction. Currently, it has no plans to launch a takeover offer. Ding said the two companies would leverage their complementary strengths “without comprising independence”, while supporting Puma’s brand revitalisation.
Puma said in a statement: “Anta aims to empower Puma to fully realise its brand potential and heritage to create long-term value for global consumers and stakeholders. We see this as a vote of confidence in Puma and its strategic direction.”
Founded in 1991, Anta has completed several high-profile acquisitions of international brands. In 2009, it acquired the China business of the Italian-founded brand Fila. In 2019, it joined a consortium with FountainVest Partners and Tencent to acquire Finland-based Amer Sports for EUR4.66 billion (USD5.42 billion). Amer Sports owns internationally recognised brands including Arc’teryx, Wilson and Salomon, with Anta contributing EUR1.54 billion (USD1.79 billion) to the purchase.
