Tesco believes gardening in the UK has a big future

A week after Tesco said that the board of Dobbies had backed its �155.6m bid, Sir Tom's investment vehicle said it was now considering a rival offer.

The statement by West Coast Capital came as it bought a further 10% in Dobbies to take its stake up to 20.6%.

If West Coast Capital gets to the 25% level it could block Tesco's plans to gain overall control of Dobbies.

"West Coast Capital is considering all its options in relation to its shareholding, one of which is a possible offer for the company," said the firm.

The news triggered a 17% jump in Dobbies' share price on Thursday - which was maintained by close of trade, with shares at 1,785p.

Motives

Some analysts said Sir Tom, who owns rival garden centre chain Wyevale and Blooms of Bressingham, appeared far from happy to see Tesco join the sector.

Check Dobbies' share price

But others speculated that he simply recognised an opportunity to force Tesco to pay more for Dobbies, thereby increasing his investment return.

"It shows either how fearful his camp is of having another serious operator in this sub-sector, or that he is trying to get Tesco to raise its offer, which it might do to stop him getting to 25%," said Richard Ratner, a retail analyst at Seymour Pierce.

Dobbies has 21 stores, mainly in Scotland and northern England.

Tesco has promised to maintain the Dobbies brand, which dates back to 1865, and run the business along existing lines.