MUMBAI: A consortium led by Anta Sports Products Ltd., China’s largest sportswear company, has reportedly completed the acquisition of Finnish firm Amer Sports for €4.6 billion ($5.15 billion).
The deal makes Anta, estimated to be worth $12.5 billion, owner of a portfolio of well-known sports brands, including Wilson tennis rackets, Salomon ski boots and Arc ‘teryx outdoor gear.
Amer Sports said in a statement that the offer, announced in September and launched in December last year, had been successful with some 94% of its shares sold to the group.
Besides Anta Sports, the consortium, set up to conduct the bid, includes Tencent, Asian investment fund FountainVest Partners and Anamered Investments, which is run by Canadian businessman Chip Wilson, AFP reports.
Amer Sports, ranked among the world’s largest sports firms, was founded in 1950 as a tobacco company, before diversifying in the 2000s.
Estimated to be worth €4.4 billion, Amer Sports last reported annual sales of €2.7 billion
