Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Pentland Group builds Blacks stake to block Ashley bid

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.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.