Chinese sportswear maker Anta Sports Products is among firms exploring a potential takeover of German sportswear brand Puma, Bloomberg News reported on Thursday.
Hong Kong-listed Anta has been working with an adviser to evaluate a bid for Puma, and may team up with a private equity firm if it decides to move forward with an offer, the report said, citing people familiar with the matter.
Other potential bidders could include Chinese sportswear group Li Ning, which has been discussing financing options with banks as it takes an early look at Puma, according to the report. Puma may also attract interest from Japanese sportswear company ASICS, the report said.
Anta Sports, Puma, and ASICS did not immediately respond to Reuters’ requests for comment. Li-Ning said in an emailed statement to Reuters that the company “has not engaged in any substantive negotiations or evaluations regarding the transaction mentioned in the news”, adding that the company continues to focus on the growth and development of its brand.
Puma’s biggest shareholder, Artemis, the privately owned holding company that controls Gucci owner Kering, has said it is considering all options for its 29% stake. However, a source close to the firm told Reuters in September that it would not sell at the market value at that time.
Puma’s market valuation is currently at 2.52 billion euros ($2.92 billion), according to LSEG data.
The Pinault family, which controls Artemis, acquired its Puma stake in 2018 from Kering when the luxury group transformed into a pure luxury player focused on brands like Gucci and Saint Laurent.
Puma’s new CEO Arthur Hoeld in October said that the brand would discount less, improve marketing and cut its product range, in addition to cutting 900 corporate jobs as part of its turnaround plan after lower demand for its products and a hit from U.S. tariffs on imports impacted its business.
Puma’s share price has halved since the start of this year, losing ground to rivals in an increasingly competitive sportswear market.
Reuters
