The Mascot Bidco Oy consortium, led by Chinese sportswear giant Anta Sports Products, has completed a deal to acquire Finland-based Amer Sports, marking a significant step into the winter sports market.
Amer operates winter sports and outdoor brands such as Atomic and Salomon, as well as Arc’teryx, Peak Performance, Mavic, ENVE, Suunto, Wilson and Precor.
China is gearing up to host the winter Olympics for the first time in Beijing in 2022, and Anta Sports is an official domestic sponsor of the Games.
The takeover, which was first outlined in September before its full launch on December 20, has been approved by the vast majority of Amer Sports’ shareholders.
After the acceptance period for the offer expired on March 7, Amer Sports said that 94.4 per cent of the tendered shares had been snapped up by Mascot Bidco, which also includes internet company Tencent, businessman Chip Wilson, and investment vehicles Anamered and FountainVest, amongst others. Tencent is also a partner of the 2022 Games.
The deal has been valued at €5.6bn ($6.3bn), with Anta securing a stake of about 58 per cent in the company. FountainVest will take a 15.8-per-cent stake, while Tencent will have about 5.6 per cent and Wilson will receive 20.7 per cent.
Anta, which served as a sponsor of the Chinese Olympic team at the 2016 and 2018 Games, sells the Fila and Descente brands in China, as well as its own Anta brand.