Czech tycoon has growing appetite for J Sainsbury | Business

The Czech billionaire who has a 13.1 per cent stake in Royal Mail has topped up his holding in J Sainsbury, lifting his investment to 9.99 per cent and making him the second largest shareholder in the supermarket chain.

Daniel Kretinsky, 45, and his business partner Patrik Tkac, 47, from Slovakia, made the investment through their Vesa Equity Investment vehicle.

According to the company’s representatives, the strengthening of ownership in Sainbury’s is part of Vesa Equity’s long-term plan to acquire minority stakes in companies that focus on the sale of food. Sainsbury’s, with a 16 per cent market share, is the UK’s second largest grocer.

Vesa Equity first invested in Sainsbury’s in September last year. It is now the grocer’s second largest shareholder after