Sports Direct International PLC (LON:SPD) has trebled its stake in Goals Soccer Centres PLC (LON:GOAL) as the sportswear retailer continues its acquisition frenzy.
The Mike Ashley-run company raised its stake to 14.64% from 4.77% to become the second largest holder in the AIM-listed five-a-side-football group after Harwood Capital, which owns 18.61%.
Last month, Goals announced a joint venture partnership with City Football Group, which owns Manchester City FC, as part of its expansion plans in the US.
READ: Goals Soccer shares soar as Mike Ashley snaps up £3.5mln stake in the five-a-side football pitch chain
Goals owns 48 football sites including two in California and a third under construction.
Sports Direct has been expanding its portfolio
In August, Sports Direct added shares to increase its holding in Goals to 4.77% from 3.8% previously.
Sports Direct has been expanding its portfolio, having bought 50 stores in the US under the Bob’s Stores and Eastern Mountain Stores brands. In July it announced it was buying a 25% stake in struggling video games retailer Game Digital PLC (LON:GMD).
The company also has stakes in French Connection PLC (LON:FCCN), department store chain Debenhams PLC (LON:DEBS), Findel PLC (LON:FDL) and JD Sports PLC (LON:JD.).