mynth
10/2026

ANTA SPORTS invests in PUMA

GERMANY Consumer Products / Sport EV 3b - 100b EUR

Context

ANTA Sports Products acquired a 29.06% stake in PUMA from Artémis, the investment company of the Pinault family, in a cash transaction announced on 7 October 2026 that made the Chinese group PUMA’s largest shareholder. Artémis, until then the largest shareholder, sold its entire holding. The deal followed the receipt of all regulatory approvals and the fulfilment of closing conditions. ANTA Sports said it would seek adequate representation on PUMA’s supervisory board but had no plans to make a takeover offer, and that PUMA would continue to be managed independently, keeping its own governance and brand identity. Its stated rationale was to apply the management, retail and sourcing capabilities built across its own brand portfolio to support PUMA’s development, particularly in China and other international markets. Héloïse Temple-Boyer, chair of PUMA’s supervisory board, welcomed the arrival of the new shareholder, and chief executive Arthur Hoeld stayed at the head of the company.

PUMA, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level than the average currently observed in the Retail & Consumer sector (11.9x).

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Target

Founded in 1948 and headquartered in Herzogenaurach, Germany, PUMA designs and sells footwear, apparel and accessories, combining performance ranges for football, running and training with Sportstyle collections drawn from sports culture, including archive models such as the Suede and the Speedcat. It sells under its cat logo and Formstrip, and its range extends to golf equipment and to licensed sportswear and underwear. Its products reach consumers through its own stores and online shop, sports retailers and department stores worldwide.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
2024

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REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 5b - 100b EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PUMA by ANTA SPORTS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: puma

Acquirer: anta sports