By  on August 21, 2014

PARIS — Puma confirmed it would diversify its business model and take a stake in Borussia Dortmund, Germany’s only publicly traded football club.

The Kering-controlled, Herzogenaurach, Germany-based activewear firm said it is to acquire up to 5 percent of Borussia’s capital stock, a club it has been sponsoring since July 2012 via playing kits for all its teams, including the senior men’s and youth teams, as well as replica kits, fan wear and other merchandise.

"It is impressive to see what Borussia Dortmund has achieved in recent years — both in sports and as a business," said Bjørn Gulden, Puma’s chief executive officer. "We will work together to reach our common goals."

"This partnership brings not only financial benefits for Borussia Dortmund, but we are also looking forward to intensive networking with our innovative sponsor in Germany and abroad," added Hans-Joachim Watzke, managing director of Borussia Dortmund."

The statement comes on the heels of Puma’s largest advertising campaign yet, a global image makeover, which is said to run until 2016, aimed at turning around the ailing company’s fortunes.

Responding to rumors regarding the acquisition in July, Gulden had said that as the sports industry is evolving, Puma was looking strategically into diversifying its portfolio.

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