Anta Group acquires 29.06% stake in Puma SE

Anta Sports Products Group has completed the acquisition of a 29.06% stake in Puma SE for 1.5055 billion euros in cash, making it the largest shareholder of the German sportswear brand. Notably, this acquisition does not grant Anta controlling rights, as the stake remains below the 30% threshold required to trigger a mandatory takeover bid under German securities law.

Unlike Anta’s previous acquisitions of brands like FILA and Amer Sports, where it secured operational control, this move represents a new strategic approach. Anta intends to seek appropriate seats on Puma’s supervisory board while respecting the brand’s independent governance, corporate culture, and management structure. The group aims to provide support through its back-end capabilities—such as supply chain, digital retail, and consumer insights—particularly to bolster Puma’s performance in the Greater China market.

Puma is currently undergoing a strategic reset following a period of financial decline, including a net loss of 646 million euros in 2025. The company is working to restructure its channels and improve profitability. Anta’s involvement is seen as a way to gain global operational experience and influence Puma’s international growth without the high capital requirements or organizational friction of a full takeover.