Briscoe Group managing director Rod Duke says he is "excited by the potential" as his plans for a takeover of Kathmandu sent the struggling outdoor clothing retailer's share price soaring.
Briscoe Group, which owns and operates the Briscoes, Rebel Sports and Living and Giving chains boosted its 4.99 per cent stake to 19.9 per cent after buying stock from several institutional shareholders.
If successful the takeover would give Briscoe Group access to the Australian market, where Kathmandu already has 100 stores.
"The takeover document is imminent and we're keen to proceed," Duke said. "We have 19.9 per cent and we're very excited about the prospect."