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PARIS – PPR is the majority shareholder of Puma. The French retail and luxury behemoth said today it now owns a controlling 62.1 percent stake in the German activewear brand, the third largest sportswear label in the world.
“We are very pleased with the final result of our offer to the Puma shareholders who have sent a strong signal of support for the transaction,” said François-Henri Pinault, chairman and chief executive officer of PPR and chairman of the supervisory board of Puma. “We are at the starting point of a fruitful collaboration and will now focus on implementing our long term strategic vision,” he added.
PPR, which bought 27.1 percent of Puma from a German private equity firm in April, offered 330 euros, or $454.94 at current exchange, per share.