West Coast Capital builds stake in garden centres business
Retail entrepreneur Sir Tom Hunter has increased his stake in garden centre company Wyevale to 24.98 per cent.

On Monday, Hunter's investment vehicle West Coast Capital acquired 9.9 per cent of Laxey's shares at 555p a share. Two weeks ago, it bought 15 per cent of Wyevale's stock.

Hunter has been in negotiations with Laxey for several weeks and is understood to be keen on bidding for the whole of Wyevale.

Late last year, rebel shareholder Laxey ousted the Wyevale board after a bloody boardroom battle. Directors Andrew Lewis-Pratt, Dianne Thompson and chairman David Williams were all removed at an extraordinary general meeting, after Laxey secured enough votes to get its way.

Williams was replaced by Jim Hodkinson, chairman of both Furniture Village and Ideal Shopping Direct, as well as former chief executive of New Look.

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