Ashley buys stake in firms’ owners

SPORTS Direct, a sponsor of Oldham Athletic and the UK’s biggest sportswear retailer, has taken a 19 per cent stake in the Findel home shopping group, which owns Express Gifts and Kitbag, both based in Chadderton.

The investment makes Sports Direct Findel’s third-largest shareholder. Sports Direct is controlled by Mike Ashley, who owns Newcastle United. The Findel group, based in Hyde, has made no announcement about the news.

In another development, Findel has received a separate bid for Kitbag, which sells football and sports clothing and equipment, including official kit for big English and Scottish clubs.

A Findel spokesman said it received the offer after completing a review of Kitbag. The bid has come from a third party and terms had been agreed subject to contract, though Findel emphasised the deal is not confirmed.

Kitbag, run by former Manchester United executive Andy Anson, has been marketed before, but Findel decided to retain it.

Express Gifts operates from three sites, its Greengate warehouse housing clothing and other goods and operating some some call centre duties. The site was previously home to British Aerospace.