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Puma takes control of Tavistock Mexico Holding

24 Apr '06

2 min read

German sporting goods group Puma and Tavistock Mexico Holding SA, a wholly owned subsidiary of the Tavistock Group private investment company, informed that they have agreed in principle to form a joint venture as of July 1st 2006, in which Puma will become the majority shareholder.

With this joint venture Puma continues its regional expansion at the start of phase IV of its long-term company development plan.

Tavistock Holding SA possesses extensive sales and marketing experience with deep retail and distribution infrastructure in the Mexican market on which to further build the Puma business.

The aim of this partnership is to jointly explore the potential of the Puma brand with its high brand awareness in the Mexican market, as well as to further enhance Puma's position as a desirable sport lifestyle brand.

Jochen Zeitz, CEO and Chairman of Puma, said, "During the past years, Tavistock has demonstrated thorough knowledge of the Mexican market. Tavistock´s ability to understand the complexities of such a country was crucial for achieving the impressive growth rates that Puma has experienced in recent years. Their continuous support will be instrumental in achieving the ambitious goals we have set for Mexico in the context of our Phase IV long term development plan."

Mario Espinosa, Chairman of Tavistock Mexico Holding SA, said, "We are pleased to continue our relationship with Puma in a joint venture. We are very confident thatby working closer together we will be able to unleash the potential of the Mexican market and expand the Puma business.”

Puma is the global athletic brand that successfully fuses influences from sport, lifestyle and fashion. Its unique industry perspective delivers the unexpected in sport lifestyle footwear, apparel and accessories, through technical innovation and revolutionary design.

Established in Herzogenaurach, Germany in 1948, Puma distributes products in over 80 countries.

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