Sports Direct International has acquired a 4.96% stake in Amer Sports Corporation, just a few months after cashing in on 8.8m Amer shares when the share price was higher.

The retailer, founded by entrepreneur Mike Ashley, said it had paid EUR48.2m (GBP36.0m) for the stake, at around EUR13.5 per share.

Sports Direct had sold its 12.1% stake in Amer, which is listed on the Helsinki Stock Exchange, for EUR166.6m (GBP116.2m), or approximately EUR19 per share, in November.

A statement by Sports Direct said: "The company continues to believe that Amer fits its criteria for strategic investments."

Amer, a multi-branded manufacturer of sports equipment and technical apparel and footwear, has a portfolio including Wilson, Salomon, Precor, Atomic and Suunto.