JD buys controlling interest in Tiso Group: heavily indebted Tiso said the investment will see bank debt significantly reduced and will provide capital for the company, which posted a loss of more than £1m in 2011.
The deal will see JD Sports, the owner of the Blacks and Millets brands expand its portfolio as Tiso also owns Keswick outdoor retailer George Fisher, Alpine Bikes and Blues The Ski Shop.
The Tiso brand is expected to remain, with its headquarters remaining in Edinburgh, while coming under the outdoor branch of JD Sports Fashion.
Michael Bennett of Pelican’s specialist leisure PR and outdoor communications team said: “We believe consolidation will continue across the industry as smaller retailers and brands struggle. The challenge for brands will be to maintain their distinctive positioning and appeal particularly when they are acquired by larger more commercially focused organisations.”
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