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Business deals

China sports brand Anta goes global, taking on Nike and Adidas

Company set to buy Wilson owner Amer of Finland for $5.2bn

Finland's Amer Sports owns Wilson, a brand whose tennis rackets are popular with top players like Roger Federer.   © Reuters

SHANGHAI/HONG KONG/TOKYO -- Anta Sports Products, a minor leaguer outside of China, is buying the Finnish owner of athletic brands such as Wilson for 4.6 billion euros ($5.17 billion), looking to compete with Nike and Adidas in both home and away markets.

The Chinese company's acquisition of Amer Sports serves as an acknowledgment that it cannot lean on the home market for growth even as Beijing regulators have clamped down on foreign acquisitions by domestic companies.

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