Battle looms for control of Blacks

A POTENTIAL battle for control of Blacks Leisure could break out after the outdoor clothing and equipment specialist confirmed it was in talks with several parties interested in the business.

Although private equity buyers are thought to have already made approaches to the Millets owner, Sports Direct tycoon Mike Ashley is also likely to be considering reviving his interest.

Shares in the company, founded in Greenock in the 1860s, rose by 25 per cent to 42.5p yesterday, valuing it at about 35 million.

Potential suitors also include Lion Capital - the private equity group that owns Cotswold Outdoor - and Go Outdoors, the retail chain that has outlets in Glasgow and Edinburgh.

Major shareholders in Blacks include Standard Life Investments, which owns just under 10 per cent of the company, and Sports Direct which has a 14 per cent shareholding.

Blacks, which has its head office and distribution centre in Northamptonshire, came close to administration last year before striking a rescue deal with creditors.