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Mike Ashley is back on the acquisition trail.
Frasers Group, the company the High Street tycoon founded as Sports Direct in 1982, yesterday bought South African sports chain Holdsport.
Ashley’s group also bought a 6.4 per cent stake worth £3m in electrical goods retailer Marks Electrical.
It comes amid a clash between Ashley and Boohoo chairman Mahmud Kamani over control of the online fashion retailer.
New acquisition: Frasers Group, the company Mike Ashley (pictured) founded as Sports Direct in 1982, bought South African sports chain Holdsport
The acquisition of Holdsport, which has 88 stores in South Africa and Namibia and owns retailer Sportsman’s Warehouse, is Frasers’ latest push into international markets.
Meanwhile, Frasers’ £3m investment in Leicester-based Marks Electricals came after Marks shares fell to their lowest level since listing in London in 2021 last week.
Marks Electricals gained 2 per cent yesterday, Frasers Group lost 1.6 per cent and Boohoo rose 1 per cent.
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