With the backing of Amer Sports’ board, Chinese sporting goods supplier Anta Sports is poised to gain access to the Wilson, Salomon, Louisville Slugger and other brands in a proposed $5.23 billion deal.

Anta, which also has the rights for the Fila brand in China, has been pursuing Amer for much of the year and leads a consortium that includes Chinese private equity firms Fountainvest Partners and Anamered Investments, the latter being owned by Lululemon founder Chip Wilson. Helsinki-based Amer would be a standalone company within Anta, whose bid for the sporting goods company won Amer board approval this week.

While Wilson (tennis racquets and baseball gloves), Salomon (outdoor gear) and Louisville Slugger (baseball bats) are well-known retail brands, they also have struck licensing deals to extend their reach into apparel and other products. The sale would be major change for 68-year-old Amer, which was founded as a tobacco company, but gradually shed those roots in buying Wilson Sporting Goods (1989), Salomon (2005) and Louisville Slugger (from Hillerich & Bradsby Co. in 2015).

For its part, Anta has positioned Fila, for which it acquired the rights in 2009, for high-end and stylish sportswear and also has 1,248 Fila stores across China, Hong Kong, Macao and Singapore.

Anta also has sought to move up from being a sneaker manufacturer by striking premium partnerships with Japanese sportswear supplier Descente and the textile division of Itochu. Anta’s proposed purchase would go a long way toward meeting the Chinese government’s goals of having mainland firms own global brands and give Anta an increased presence in international markets.