Garden centre chain good fit with Wyevale
Scottish retail entrepreneur Tom Hunter has built almost a 4 per cent stake in garden centre chain Dobbies, it was revealed before close of the markets yesterday.
Hunter increased his stake in the business thorough his investment vehicle West Coast Capital. He now has a 3.7 per cent share, having taken it up from just under 3 per cent.
Hunter, in partnership with Icelandic investment firm Baugur, recently acquired garden centre chain Wyevale. The£311 million buy-out was given its final clearance yesterday. Speculation over a possible takeover of Dobbies is now rife.
Seymour Pierce analyst Richard Ratner said: 'Dobbies' geographical fit complements, rather than conflicts with, Wyevale. Moreover, the garden centres are almost all large units and fit well within Wyevale's.'
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