Finnish company Amer Sports Corporation, the manufacturer of recognized brands including Salomon, Arc’teryx, Armada, and Atomic, confirmed that it has received interest from a Chinese consortium for a $5.5-billion buyout. ANTA Sports Products Limited and the Asian private equity firm FountainVest Partners would like to acquire the entire share capital of Amer Sports.
ANTA Sports, already home to high-end ski label Descente, believes that the newly acquired brands would complement their current portfolio well, especially with Beijing set to host the 2022 Olympic Winter Games when interest in purchasing new skis and snowboards will be high.
The ANTA brand was established in 1991, while ANTA Sports Products Limited, a leading sportswear company in China, was listed on the Main Board of Hong Kong Stock Exchange in 2007. ANTA Sports recently announced record-breaking revenue and earnings.
At this time, Amer Sports is not engaged in any negotiations with the Consortium and has made no decisions in respect of the Indication of Interest.