Photo Credit: Getty Images
Puma shares surged on Thursday after reports indicated that China's Anta Sports is exploring a possible takeover of the struggling German sportswear company. The stock jumped as much as 16%, later settling around 13% higher, marking one of Puma's sharpest single-day rallies this year. The sudden spike comes after a difficult year in which Puma's share price has more than halved, weighed down by slowing demand, rising competition, and the impact of U.S. tariffs on customer sentiment.
According to reports, Anta Sports has been working with advisers to evaluate a formal bid and may partner with a private equity firm if it decides to proceed. The interest does not appear to be exclusive; Chinese apparel maker Li Ning is also said to be assessing financing options as it considers an early move. Japanese sportswear producer ASICS is reportedly another potential bidder.
Puma declined to comment on the speculation, and, Anta has yet to respond to media inquiries. Li Ning and ASICS also did not immediately provide statements.
The renewed acquisition chatter arrives at a challenging moment for Puma. The company's newly appointed CEO, Arthur Hoeld, who took over on July 1, faces the urgent task of revitalizing the brand. His turnaround plan focuses on cutting jobs, slimming down Puma's product catalog, and sharpening the company's marketing strategy. In late October, Puma publicly stated its goal to reestablish itself as a "Top 3 global sports brand," even as it reported quarterly sales that fell by double digits.
Part of the pressure stems from muted brand momentum, elevated inventories, and U.S. tariffs that have affected demand. Despite these headwinds, the possibility of multiple bidders signals that Puma may still hold considerable strategic value for firms looking to expand globally.
Puma's largest shareholder, Artemis, the holding company controlled by the Pinault family, currently owns 29% of the company. Artemis has said it is considering options for its stake, although sources previously suggested it was unwilling to sell at the stock's depressed market value. Puma is currently valued at €2.52 billion, raising questions about whether a buyer would need to offer a significant premium to win shareholder approval.
