Puma sports shoe (illustrative image), PHOTO: Shutterstock
The Chinese manufacturer of sports goods Anta Sports Products is among the companies that are analyzing a possible takeover of the German brand Puma, the Bloomberg agency reports on Thursday, quoted by Reuters.
Hong Kong-listed Anta Sports has worked with a consultant to evaluate a bid for Puma and could work with a private equity firm if it decides to move forward with a bid, according to Bloomberg, citing people familiar with the matter.
Puma shares were up 12% in pre-market trading. Puma declined to comment when contacted by Reuters.
Based on revenue, Anta Sports is the third largest manufacturer of sporting goods in the world, behind only Nike and Adidas.
Other potential bidders could include Chinese sporting goods group Li-Ning, which has discussed financing options with banks as it preliminarily looks at Puma, according to Bloomberg. Puma could also attract the interest of Japanese sporting goods manufacturer ASICS, according to the same source.
Anta Sports and ASICS did not immediately respond to requests for comment from Reuters. Li-Ning said in an emailed statement to Reuters that the firm “has not initiated any substantive negotiations or evaluations regarding the transaction mentioned in the news,” adding that the company continues to focus on growing and developing its brand.
Puma is worth around 2.5 billion euros
Puma’s biggest shareholder Artemis, the private holding company that controls the Kering group, said it was looking at all options for its 29 percent stake, although a source close to the firm told Reuters in September it would not sell it at market value since then.
Puma’s market cap is currently €2.52 billion.
The Pinault family, which controls Artemis, took a stake in Puma in 2018 from Kering as the luxury group transformed into a player focused exclusively on the luxury segment, with a focus on brands such as Gucci and Saint Laurent.
Arthur Hoeld, Puma’s new chief executive, said in October that the brand would offer fewer discounts, improve marketing and reduce its product range, in addition to cutting 900 corporate jobs, as part of a turnaround plan after falling demand for its products and the impact of US tariffs on imports.
Puma’s share price has halved since the start of this year, losing ground to rivals in an increasingly competitive sporting goods market.
