(Yicai) Aug. 29 -- Anta Sports Products has rebutted news reports that the Chinese sportswear giant plans to acquire Canada Goose, a luxury clothing brand.

Anta Sports is not involved in a potential acquisition of Canada Goose, the Fujian province-based company said in a stock exchange filing yesterday.

According to reports, Bain Capital has received multiple offers to sell Canada Goose, which it values at around USD1.4 billion, with Boyu Capital and Advent International among the private equity firms to have submitted bids.

Other potential buyers are said to include Chinese down jacket giant Bosideng International Holdings and a consortium of Anta Sports and PE firm FountainVest Partners, which bought Finnish sporting gear maker Amer Sports in 2019.

A private equity investor told Yicai that several Chinese companies have been in contact to acquire the Toronto-based company, though no deal has been reached yet.

After gaining by as much as 2 percent earlier in Hong Kong today, shares of Anta Sports [HKG: 2020] closed 0.4 percent higher at HKD96 (USD12.31) apiece. The stock has climbed 25 percent since the end of last year.

Bain Capital acquired a controlling stake in Canada Goose for USD250 million in 2013 and led its dual listing on the New York and Toronto bourses in 2017.

Canada Goose's revenue fell 1.1 percent to CAD1.4 billion (USD1 billion) in the fiscal year ended March 31. Sales growth has been softening, rising 22 percent in 2022, 11 percent in 2023, and 9.6 percent last year, while it postponed its forecast for fiscal year 2026, citing tariff uncertainties. The firm’s market capitalization is around USD1.2 billion.

Footwear and apparel industry insiders told Yicai that market conditions have been poor this year, and many brands are looking for buyers.

"We remain committed to strengthening our existing brands by unlocking their growth potential while continuing to pursue strategic acquisitions," Ding Shizhong, chairman of Anta Sports, said on its earnings conference call two days ago.

Anta’s approach to acquisitions prioritizes opportunities that align with its growth strategy, firstly by acquiring brands with strong value and heritage to lift their worth via strategic restructuring, and secondly by investing in emerging brands with high potential, so as to form early ties to explore mutual growth, Ding noted.

Editor: Martin Kadiev