Shares in Puma surged as much as 20 per cent in German trading following reports that the Pinault family is exploring a potential sale of the German sportswear brand. The jump, the most significant since October 2001, comes after Puma’s market value has declined by approximately half in the past year. Puma has a market value of about €3.2 billion ($5.7 billion).
The Pinault family, which controls a 29 per cent stake in Puma through its investment firm Artemis, is reportedly working with advisors to explore a possible sale. Artemis is also the controlling shareholder of Kering SA. The family is expected to seek a substantial premium in any transaction.
According to sources familiar with the matter, Artemis has approached potential buyers, including Anta Sports Products and Li-Ning, to assess their interest in acquiring Puma. The firm has also reportedly contacted other sportswear companies in the United States and sovereign wealth funds in the Middle East.
Puma designs, develops, sells, and markets footwear, apparel, and accessories. The company distributes its products in more than 120 countries and employs more than 18,000 people worldwide.
