ANTA Sports has completed its $1.7bn acquisition of a controlling stake position in Puma, becoming the German sportswear brand's largest shareholder after receiving regulatory approvals and satisfying the deal's closing conditions.

The Hong Kong-listed group confirmed the transaction closed under its "single-focus, multi-brand, globalisation" strategy, aimed at strengthening its international profile and competitiveness in the global sporting goods market. ANTA plans to apply its experience in multi-brand management, retail operations and global resource integration to support Puma's growth.

For sourcing and supply chain executives at both groups, the immediate structural point is governance: Puma will continue to operate as an independently managed business. ANTA said it would respect Puma's governance, brand autonomy, corporate culture and sporting heritage. The new anchor shareholder plans to seek appropriate representation on Puma's supervisory board but has no current plans to make a takeover offer for the German company.

ANTA Sports chairman Ding Shizhong said the group would share experience in retail and operations while supporting Puma's ongoing strategic transformation.

"We are delighted to become Puma's largest shareholder and a long-term strategic partner," Shizhong said. "The global sporting goods market continues to offer significant growth opportunities as more people embrace active lifestyles and increase their participation in sports."

He added: "ANTA Sports has built its success on a multi-brand strategy. We believe the value of a multi-brand group lies in helping each brand realise its full potential by leveraging the capabilities and resources of the broader group."

What does the deal mean for Puma's operations?

Puma welcomed ANTA's arrival as the beginning of a "new chapter." CEO Arthur Hoeld said the investment represented confidence in the company's management team and future.

"PUMA has built one of the most recognised sports brands in the world, with a rich heritage, a deep sports credibility, a global footprint, leading innovations and strong partners," Hoeld said. "We welcome ANTA Sports as Puma's largest shareholder and view its long-term commitment as a strong vote of confidence in our strategy, our management team and our future."

Hoeld said the companies would explore "areas where our respective strengths can create sustainable value for Puma and its shareholders on our journey to become a top 3 global sports brand."

Why is the timing significant?

The transaction closes against a weak trading backdrop. Puma reported a 9.4% year-on-year decline in currency-adjusted sales for the second quarter of 2026. The company attributed the fall primarily to its ongoing business "reset" measures and weaker consumer demand.

What decisions does this force?

The deal puts an Asia-rooted operator with deep retail and multi-brand capabilities behind one of Europe's largest sportswear brands at a moment of restructuring. Suppliers and sourcing partners to Puma should note the explicit commitment to independent management and the absence of a takeover offer — meaning no immediate change to buying structures.

The longer-term question is whether ANTA's stated expertise in retail operations and global resource integration translates into consolidated sourcing leverage, supplier consolidation, or expanded production footprints across the combined group. Vendors currently serving either company will need to monitor supervisory board representation and any early signals of shared operational functions as the partnership develops.