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Tesco buys out rival's stake in Dobbies Garden Centres

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Tesco is to buy out Scottish entrepreneur Tom Hunter's stake in Dobbies Garden Centres for £36m.

Dobbies

Hunter, who holds a near 30% share in the business, is also owner of rival chain Wyevale. He has agreed to the £12-a-share buyout.

Tesco bought a majority 65% stake in Dobbies last year but failed to win outright control.

Hunter had been trying to block an “open offer” of new shares by Dobbies, designed to help fund expansion of the chain, but his move was blocked by the courts last week.

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