Anta Sports is now Puma’s largest shareholder.
On Wednesday, the German sports company revealed that Anta Sports Products Limited has successfully completed its acquisition of the 29.06 percent stake previously held by Artémis SAS, the investment company of the Pinault family.
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The transaction, which was first announced in January, is worth 1.5 billion euros, or about $1.8 billion. Anta now holds over 43 million ordinary shares of Puma.
The Puma shares sold in this transaction were received by Artémis in May 2018, as part of the exceptional distribution in kind carried out by Kering to its shareholders, in addition to Kering’s annual ordinary dividend paid for that year.
François-Henri Pinault, chairman of Artémis, said in a statement that the firm “has been proud to support” Puma over the past eight years.
“We have great respect for this distinctive global sports brand and for the commitment of its management and teams,” Pinault noted. “We thank them for the quality of our relationship and wish Puma every success in the next chapter of its development.”
Now that the deal is done, Puma reiterated that it continues to operate as an independently managed company, but the arrival of China’s Anta Sports as its largest shareholder “marks the beginning of a new chapter” for the German firm.
“We view Anta’s long-term commitment as a strong vote of confidence in our strategy, our management team and our future,” Arthur Hoeld, chief executive officer of Puma SE, said in a statement. “We look forward to building a fruitful partnership and exploring areas where our respective strengths can create sustainable value for Puma and its shareholders on our journey to become a top three global sports brand.”
Ding Shizhong, board chairman of Anta Sports, sees his company as a “long-term strategic partner” for the German athletic company.
“Puma is an iconic global sports brand with a rich heritage and significant long-term potential,” Shizhong noted. “We have confidence in its management team and strategic direction, and look forward to contributing Anta Group’s experience and capabilities to support Puma’s future growth while preserving what makes the brand unique.”
In a separate press statement issued by Anta on Wednesday, the company said that it will continue to seek “adequate representation” on Puma’s supervisory board but “currently has no plans to make a takeover offer for Puma.”