Blackstone have agreed to acquire Bourne Leisure, the parent company of Haven Holidays, Butlin's and Warner Leisure Hotels.
The Harris, Cook and Allen families, who founded Bourne Leisure, are co-investing alongside Blackstone Capital Partners and Blackstone Real Estate Partners and will together hold a significant minority stake in the business.
The company employs over 16,000 team members, hosting 25,000 holiday-home owners, and attracts 4.5 million guests to 56 sites across the 海角视频 every year.
It operates through its three brands, Haven, Butlin鈥檚 and Warner Leisure Hotels.
Haven is the largest 海角视频 caravan operator with 38 holiday parks and 2.5 million visitors a year.
US investment company Blackstone previously invested in Center Parcs 海角视频 and currently owns Merlin, which has grown to become the second largest operator of visitor attractions and theme parks globally.
Lionel Assant, European head of private equity at Blackstone, said:听鈥淲e are long-term believers in the 海角视频 and are delighted to invest meaningful capital, despite recent uncertainty, to support the recovery of a COVID-impacted industry, and wider local economies.
"We look forward to working听in partnership with听Bourne Leisure鈥檚 founding families,听the management team led by Paul Flaum,听as well as听colleagues from Blackstone Real Estate,听to further grow this great company.
"Our strong track record investing in the 海角视频 leisure sector will allow us to further enhance the Company鈥檚 unique, high quality assets across the country, and continue building on its success for guests, holiday-home owners and team members over the last 57 years.鈥
Paul Flaum, Group Chief Executive Officer of Bourne Leisure, added: 听 鈥淭oday marks the beginning of an exciting new chapter for Bourne Leisure, for our guests, our holiday home-owners and our team members.
"We are delighted to be partnering with Blackstone who have demonstrated a real understanding of our business and sector, and we look forward to working together to deliver on our exciting plans for the future.
"We are also delighted that our founding families will continue to be involved in the business through their significant family minority co-investment. We see compelling opportunities to grow Haven, Butlin鈥檚 and Warner Leisure Hotels, as well as benefit from the increasing demand for 海角视频 domestic holidays.鈥
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