Updated: Blacks Leisure confirmed today that Pentland Group has snapped up a 5.86% stake in the outdoor specialist.
There was speculation this week that Pentland Group, which owns brands including Berghaus and Speedo, would disclose the stakebuilding in what is reported to be another move to block Sports Direct founder Mike Ashley from making another play for the outdoor specialist chain.
The move is a further obstacle to Ashley making a bid for Blacks in the future.
VF Corporation, the owner of denim brand Warngler and outdoor brand North Face also built a 5% stake in Blacks last month and was among brands who reportedly threatened to boycott Blacks if Ashley’s bid earlier this year had been successful.
Last week, Blacks completed a £20m fundraising, which had originally been blocked by Sports Direct. The sports giant decided not to take up any new shares and so Sports Direct’s stake has been diluted to 14.5%.
This has been seen by some as a white flag from Ashley after pulling out of a bid for Blacks last month.