Dealmaker Jason Granite has bought camping brand Gelert and will merge it with his Yeomans outdoor goods retail chain.
Granite, who originally made his name as a distressed debt trader at Deutsche Bank, acquired Gelert for an undisclosed sum yesterday.
Granite bought 82-store Yeomans in July last year and intends to trade the business long-term. In the past the retailers he has bought, including Envy and Faith Shoes, were frequently liquidated.
However soon after buying Yeomans Granite drafted in former Go Outdoors head of buying and merchandising Chris Boardman to strengthen the management.
He is keen to develop a stable of outdoor brands Yeomans and the purchase of Gelert is a step along that route.
The deal comes as outdoor goods retail goes through a period of change. Blacks was lined up for administration this morning as a precursor to a sale, and fast-growing businesses such as Go Outdoors have become increasingly powerful in the category.