Blackstone sells Butlin’s back to its former owner in £300m deal 

The Harris family has bought back Butlin's seaside resorts, which has camps in Skegness, Minehead and Bognor Regis (pictured), for £300m


US private equity giant Blackstone sells Butlin’s back to its former owner in £300m deal

Butlin’s has been bought by its former owner just 19 months after it was snapped up by US private equity giant Blackstone.

The Harris family has bought back the seaside resorts group, which has camps in Skegness, Minehead and Bognor Regis, for £300million. 

The deal comes after last year’s sale by the family of Butlin’s parent company Bourne Leisure for £3billion to Blackstone. 

The Harris family has bought back Butlin's seaside resorts, which has camps in Skegness, Minehead and Bognor Regis (pictured), for £300m

The Harris family has bought back Butlin’s seaside resorts, which has camps in Skegness, Minehead and Bognor Regis (pictured), for £300m

Bourne, which was founded by billionaire entrepreneur Peter Harris in the 1960s, also operates the Haven and Warner Leisure holiday businesses, which will remain in Blackstone’s hands.

Butlin’s was founded in 1936 by Billy Butlin. In its heyday, it operated from nine sites across the UK, entertaining a million people each year with glamorous granny contests.

Bourne Leisure bought the business in 2000. Blackstone’s European head of private equity, Lionel Assant, said the investment group will reinvest proceeds from the sale into Bourne.

The deal comes as an economic downturn and the cost of living crisis hit families’ finances, which could drive more people towards Butlin’s. 

But the Harris family will not own Butlin’s property assets as they were sold to pension manager Universities Superannuation Scheme for £300million in July.

Private equity groups have been increasingly eager to buy into Britain’s domestic holiday market. 

See also  Tesla shareholders hope company can shield itself from Elon Musk's antics

In June of last year, CVC Capital Partners bought Away Resorts for £250million followed by Aria Resorts in August.

Advertisement



Source link

Free Fortnite V-bucks Generator and Vbucksreal
Free PSN Gift Cards PSN and Free Gift Cards for PSN and Gift Card Generator
Free Fortnite V-bucks Generator and How to Get Vbucks in Fortnite and Eeoe3k
Free Tiktok Followers Generator and Tikfans Bum App and Ynz0he
the Only Way to Get Free Xbox Gift Cards, Free Xbox Gift Cards on Youtube August 21 and Free Xbox Gift Cards 2022 No Surveys
[1M92XS] Gift Cards and How to Get Free 3ds Eshop Money
Free PSN Gift Cards for Ps4 and Free Gift Cards for PSN Store App
Paysafe Free and Cod Paysafecard Gratis 
Free Fortnite V-bucks Generator and Secretly Store Promo Code and V59rjk
is free cash make money app legit, make money cash free app and get free cash app money bypass human verification
Free Tiktok Followers Generator and Tijktok and 4xh7yi
Xbox Players Get Gift Cards Free, Getgiftcards
Free Fortnite V-bucks Generator and Buckz and 8kzdv8
Free Tiktok Followers Generator and Tik Tok Free Likes and Echwry
Free Fortnite V-bucks Generator and Fort Zar 
Paysafecard 25 Lei Gratuit and Www 
70WH4 Free Paysafecard Generator and Gratis Paysafecard Code
Free Fortnite V-bucks Generator and Free V-bucks and V9s9uh
Free Tiktok Followers Generator and Follower Boost App and Ayllx1
Free Tiktok Followers Generator and Gain Likes on Tiktok and Xdebdz
Free Gift Cards for Xbox App, Earn Xbox Gift Cards Free and How to Get Free Xbox 360 Gift Cards
Free Gift Cards Generator Xbox, Free Xbox Gift Cards App and Free Xbox Gift Cards No Survey No Human Verification
Get Free PSN Gift Cards Big Spot and Free PSN Gift Cards+
Free Paysafecard and Coduri Paysafecard Gratis 
cash app bug free money, how to get some free money on cash app and cash app bitcoin free money
[8RAW9O] Codes for Nintendo and Redeeming Nintendo Eshop Card
T8IBA Cod Paysafecard 25 Lei and Paysafecard 25 Lei 
Xbox Free Gift Cards Codes, Earn Free Xbox Gift Cards and Free Xbox One Gift Cards 2022
Earn Free PSN Gift Cards and Free Gift Cards PSN 
Giftcardsking Free Xbox Gift Cards, How to Get a 50 Xbox Gift Cards for Free and Free Gift Cards for Xbox 360 
Free Gift Cards for PSN Store and Gift Cards PSN Free
free money cash app scam, cash app free money method and free cash app money legit android
9AIA0 Gratis Paysafecard Codes 2022 and Free Paysafecard Code List
free money cash app scam, cash app free money method and free cash app money legit android
Xbox Gift Cards Free No Survey, How to Get Xbox Gift Cards for Free 2022 and Free Xbox Box Gift Cards 
[OZUY1P] Pokemon Card Gift and Free Eshop Com
Free Tiktok Followers Generator and Bot Tiktok Comment Likes and Ko88b9
real free money on cash app, how do i get free cash app money and how to get free money on cash app vrrdh2tglsi 
79BRG Coduri Paysafecard and Paysafecard Code
Free Tiktok Followers Generator and Likes App and T3b1ti
can you get free cash app money, how to get free money into your cash app and how to make free easy money on cash app 
Free Tiktok Followers Generator and Get Fans on Tiktok and Scmtww
By californianews_gkdgq8

Leave a Reply

Your email address will not be published.

Related Posts