Chinese sportswear giant has offered to buy the majority stake in Puma from the Pinault family, which owns 29 percent of the German brand, according to published reports.
Anta secured financing for a possible deal and launched a bid to the French family, who controls their stake in Puma through the Artemis investment company, based on a report from Reuters Thursday and sources familiar with the matter.
But according to second source, the proposal was presented weeks ago in December and talks are now at a standstill.
Artemis is thought to not have seriously been considering a sale of its stake in the struggling company, which saw its shares slip by nearly half in 2025.
Meanwhile, the news of Anta’s increasing interest comes weeks after Puma took out $700 million in bridge loans and credit lines in December to help infuse cash into the brand. Puma described the move as “increasing overall flexibility and headroom,” as $585 million of the funding came in the form a loan with the loan with $126 million as part of additional credit line to prop up its existing revolving credit facility valued at $1.4 billion.
Anta is reportedly one of several suitors with serious interest in not only acquiring the Artemis-controlled shares, but also all of Puma. For much of 2025, rumors of Li Ning Co., Asics, Adidas, Authentic Brands Group and private equity firm CVC have surfaced as companied link to takeover talks.
But Puma navigated a rocky 2025 that saw it bring on Arthur Hoeld as its new CEO early last year, declare a full loss as part of a refreshed financial outlook and 1,400 job cuts. Hoeld and Puma are in the midst of a turnaround plant that is expected to show some progress by 2027, but interest in the company — and bids — have apparently intensified with Anta’s reported offer the first serious move to pry the brand.
Artemis is run by Francois-Henri Pinault, who is the chairman of Kering and his family absorbed its stake in Puma in 2007 and later boosted the holding company’s growing status as a luxury powerhouse beginning in 2017. Kering is the home of high end labels like Gucci, Yves Saint Laurent, Balenciaga, Bottega Veneta, Creed and Alexander McQueen.
Meanwhile, a potential acquisition by Anta could catapult the Chinese brand beyond its borders despite already making notable purchased in recent years. The company owns Arc’teryx, Salomon, Wilson and others brands under as a majority shareholder in a partnership with Amer Sports — and outright owns several brands.
Anta made a name for itself in the United States due to collaborations with basketball stars Kyrie Irving and Klay Thompson on signature sneakers. But the company has also forged its presence in running with several new and revamped performance shoes in the pipeline for 2026.
