Chinese investor consortium acquires Amer Sports

An investor consortium has announced on Friday the acquisition of all issued and outstanding shares in Finnish sportswear group Amer Sports Corporation.

The consortium, comprising ANTA Sports, FountainVest Partners, Anamered Investments and Tencent, made the acquisition through a voluntary, recommended public-cash tender offer by the newly-incorporated Mascot Bidco Oy.

The price offered for each share will be €40, which represents a premium of 43 percent to the average trading price, according to an Anta statement.

The tender offer values Amer Sports' entire issued and outstanding share capital at approximately €4.6 billion.

The Amer Sports board of directors has recommended Amer Sports shareholders accept the tender offer.

In the new company, Mascot Bidco Oy, Anta will hold 57.9 percent shares, FV fund 21.4 percent, Tecent 5.63 percent, FountainVest 15.77 percent, and Anamered Investments 20.6 percent.

"We are excited to bring these premium international brands and products to Chinese consumers, who increasingly seek high-end products with outstanding quality and heritage in various niche and specialized sports segments," said ANTA Sports chairman and CEO Ding Shizhong.

Ding said with the help of Anta Group, Amer Sports will maintain consistent future growth, especially during the 2022 Beijing Olympics.

Anta is set to provide Amer sports with its extensive distribution network, research and development resources and manufacturing and sourcing capabilities in China.

Amer Sports' diversified brand portfolio, which owns top brands such as Salomon and Arc'teryx, also represents a strong match with ANTA Sports' multi-branded strategy.

The acquisition is thought to be an attractive opportunity for ANTA Sports to further invest in premium international sportswear brands, a number of which ANTA Sports believes have potential to develop both on a national and international scale.

Key-Solution sports marketing and consulting agency founder Adam Zhang said the deal is the largest acquisition made by a Chinese company this year and is a milestone for the Chinese sportswear industry.

He said the move will strengthen Anta's move into international markets.

While the company is ranked the world's third-largest sportswear company by market value behind Nike and Adidas, 90 percent of its market is in China.

Amer Sports however reports that approximately 95 percent of its sales come from markets other than China.

"The deal will lift up the revenue from international markets for Anta to at least 40 percent," said Zhang.

Following the completion of the tender offer, the investor consortium plans for Amer Sports to operate independently from ANTA Sports, with a separate board of directors.