Shares in Dobbies Garden Centres gained more than 10 per cent in early trading after the Scottish chain confirmed that it was in takeover talks with Apax Partners, the private equity firm.

Dobbies said that discussions had taken place, “which may or may not lead to an offer for the company”.

The company said that it would make a further announcement in due course, but gave warning that “there was no certainty” that an offer would be forthcoming.

Shares in the AIM-listed company rose 125p to £13.40p on the news of the possible bid, which would value the company at about £240 million.

News of the talks comes amid speculation that Sir Tom Hunter, Scotland’s richest man, has Dobbies in his sights after increasing his stake in the company to 10.6 per cent last week.

The entrepreneur has been at the forefront of consolidation in the sector, with the £445 million acquisition of Wyevale Garden Centres, the UK’s biggest chain of garden centres, last year, and the £30 million acquisition of its smaller rival, Blooms of Bressingham, this year.

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