Pumpkin Patch buyer revealed

NEW ZEALAND: The managing director of a retail chain which runs Rebel Sport has been outed as the buyer of a "substantial shareholding" in listed retailer Pumpkin Patch.

According to reports in Fairfax newspapers, Briscoes MD Rod Duke yesterday (March 19) revealed that a trust he is associated with now held an 8.4 per fent stake in the childrenswear retail group.

The trust, which is believed to have held shares in the company since it first listed in 2004, is believed to have picked up six million shares at a cost of $NZ1.60 per share.

The move comes after Pumpkin Patch stock fell more than 40 per cent in the past three months. Despite this, the company's stores have continued to perform well in Australia and New Zealand with its presence in Britain and the US impacted by worsening economic conditions.