Puma Trainers to cross the German/French border? PPR announced that it has taken a 27% stake in German sportswear retailer Puma. The French luxury goods group confirmed that it planned to take over the rest of the company for €5.3 billion. With the sale of their stake to PPR, siblings Gunther and Daniela Herz, until now Puma’s largest shareholders, have relinquished all control of Puma.

“The Puma Board of Management unanimously believes that PPR’s engagement is in the best interests of the company and that the announced offer price per share of €330 for the voluntary public take-over offer is fair,” said Jochen Zeitz, chairman and chief executive of Puma. “Going forward Puma can utilize PPR’s premium segment design and sourcing expertise, contributing to the further improvement of Puma’s product offering. Additionally, PPR’s experience in worldwide retail, wholesale and multi-brand management will provide valuable support to Puma’s brand expansion plans.”