A major US private equity company is in talks to buy a £900million stake in the company behind Butlin’s holiday parks as it looks to cash in on demand for British staycations post-pandemic.
The deal, first reported in the Times , would value Bourne Leisure at around £3billion.
Hemel Hemstead-headquartered Bourne - the Ƶ’s biggest leisure company - also runs holiday operator Haven and Warner Leisure Hotels. The business employs around 14,000 people in peak season.
It is understood the families behind the company - Harris, Cook and Allen - will retain a stake in the firm. Peter Harris established the business in 1964 and is the company’s largest shareholder.
“Blackstone is probably thinking of what has a chance of a good comeback after the pandemic and Bourne Leisure has always been a company with a strong balance sheet,” an insider told the .
Britain’s tourism and hospitality sector has been devastated by the Covid crisis and national lockdown restrictions. If completed, the deal could safeguard thousands of jobs and would be seen as a vote of confidence in the Ƶ post-Brexit.
Butlin's sites are currently closed under Government guidelines until at least mid-February, according to the company’s website.
New York-based Blackstone already has a stake in a number of leisure attractions in the Ƶ, including the London Eye, Legoland and Madame Tussauds, which are owned by Merlin..
According to City AM , in 2018 Blackstone also bought the NEC Group and its Birmingham arenas for a reported £800million.
Blackstone declined to comment.
