La Jolla-based Triton Group has exercised its...

La Jolla-based Triton Group has exercised its previously announced options to buy 1.3 million shares of Fuqua Industries’ common shares at $36 a share. The stock acquisition gave Triton a 9.9% stake in Fuqua. The Atlanta-based company has interests in a photo-finishing business, a retail sporting goods chain, a lawn and garden equipment manufacturer and a Georgia savings and loan.

Triton hopes to build a control position in Fuqua, according to company officials. However, Triton must first gain approval for further stock purchases from the Federal Home Loan Bank Board. Triton’s application is pending before the FHLBB, a spokesman said.