Sports Direct has acquired a majority stake in outdoor sports chain Yeomans as it adds to its growing stable of retail brands.
The Mike Ashley-owned group bought the stake from entrepreneur John Kinnaird, who retains a minority stake in the 70-store retailer, which sells outdoor equipment and clothes across its high street stores, outdoor centres and outlet shops. Kinnaird, the former boss of Sports Division, bought the retailer from specialist investor Jason Granite in March last year.
The value of the investment and the size of the stake has not been disclosed.
The move comes days after the sports giant bought troubled outdoor company Gelert out of administration for an undisclosed sum. The acquisitions build on Sports Direct’s growing outdoor businesses, which include the Karrimor brand.
Sports Direct declined to comment.