A Case Study Of Anta Group's Series Of Mergers And Acquisitions Based On Synergy

The enterprise's resource allocation,market structure,and organizational structure can be comprehensively optimized and upgraded in a short time through mergers and acquisitions(M&A).With the rapid growth of China's market economy and increasingly fierce market competition,it is very necessary for enterprises to constantly grow and develop.More and more enterprises begin to improve their comprehensive competitiveness by means of M&A,in this context,in recent years.China's sportswear industry,which is closely related to people's life,has also joined the wave of M&A in recent years;it's eager to enhance brand value,expand market scale and quickly adapt to the new global market competition environment through the M&A of internationally-known sports brands.However,although the number and scale of M&A in the industry are increasing year by year,most enterprises end up in failure after M&A,failing to effectively achieve synergies.The focus of this paper is how to achieve synergy better after the M&A of Chinese sportswear enterprises.This paper firstly defined and sorted out the relevant concepts and theories of M&A synergies,and further determined the significance of this study by summarizing the existing research results of domestic and foreign scholars.It can be found that with the deepening of the research,scholars gradually made transitions from the early-stage influencing factors of synergies to the measures selection in the late-stage integration process,and began to emphasize the value of integration in the whole M&A process.Synergy is the purpose while integration is an important means.Secondly,this paper summarized and analyzed the company profile,the process of a series of M&A activities and M&A motivations of the case enterprise-Anta Group,and found that its M&A decision is closely related to environmental factors,its own advantages and policy orientation.While understanding the early-stage influencing factors of M&A,this paper further analyzed the core scope of its integration measures after M&A through the grounded theory,performed in-depth analysis in turn,and found that its merger and acquisition integration measures can be summarized as reshaping of group strategy and brand positioning,transformation of management model and cultural upgrade as well as resource sharing throughout the industry chain.At last,the short-term and long-term synergies of the group were evaluated by event analysis method and financial index method respectively.Through the study of this paper,it is found that sufficient M&A motivation is only the premise for the synergy,and a series of integration measures must be taken after M&A in order to achieve effective long-term synergy.Finally,combined with the integration and implementation path of a series of M&A of Anta Group,this paper puts forward relevant suggestions for the M&A of sports brands in China,in order to promote the synergy of China's sportswearenterprises in the M&A.