• Anta Sports will acquire a 29.06% stake in Puma for €1.51 billion ($1.79 billion).
• The deal will make Anta the largest shareholder of Puma, replacing the Pinault family.
• Puma has struggled with declining sales and leadership changes as it seeks to boost performance.

Chinese athletic goods giant Anta Sports is set to purchase a 29.06% stake in Puma for €1.51 billion ($1.79 billion), confirming its position as the largest shareholder of the German sportswear brand. This deal, made with the Pinault family’s holding company, Artemis, involves acquiring just over 43 million shares at a price of 35 euros each, reflecting a more than 60% premium to Puma's closing share price, according to Reuters, India Times, and Channel News Asia.

Anta's acquisition is seen as a strategic move to enhance its presence and brand recognition in the global sporting goods market. The company aims to leverage this stake to strengthen Puma's competitive position internationally, as reported by Reuters and India Times. Anta Chairman Ding Shizhong emphasized that "Puma's share price over the past few months does not fully reflect the long-term potential of the brand," indicating a belief in future growth opportunities.

Despite the potential boost from this investment, Puma has faced challenges, including a significant decrease in sales, especially in the last quarter of the previous year. Under new CEO Arthur Hoeld, the brand is focusing on restoring its market position through a strategy to improve distribution quality, product offerings, and overall brand appeal, according to Channel News Asia.