Chinese sporting apparel manufacturer Anta is leading a consortium of investors to purchase Finnish brand Amer Sports for 5.6 billion euros, the Financial Times reports, in what would be the largest European investment by a Chinese company this year.
Anta, China’s largest sportswear company by sales, hopes to incorporate Amer’s collection of sub-brands including ski label Atomic and tennis racket brand Wilson.
Anta has offered 40 euros per share, giving Amer’s equity a valuation of 4.6 billion euros. Sources close to the matter told the FT that negotiations were in the final stages but still ran the risk of falling through because of persistent push back by the Finnish company.
China’s sportswear market has grown twice as fast as the wider clothing market in recent years, as shoppers look to kit out an increasingly active and health-conscious lifestyle. Winter sports equipment, in particular, is set for a boom ahead of the Beijing Winter Olympics in 2022.