Sports Direct has bought a 4.96% stake in Amer Sports Corporation.
Sports Direct paid €48.2 million (£36m) for the stake in the clothing and footwear manufacturer, which is listed on the Helsinki Stock Exchange, equivalent to €13.5 (£10) per share.
The acquisition was financed by a drawdown under existing facilities. The company sold an earlier investment in Amer Sports Corporation last November for €19 (£14.14) per share.
Sports Direct said Amer Sports fitted its criteria for strategic investments.
Amer Sports' major brands are Wilson, Salomon, Precor, Atomic and Suunto.