Sale of Butlin's and Haven Holidays' owner to US firm 'beginning of an exciting new chapter'
Bourne Leisure, the owner of Butlin's and Haven Holidays, has been acquired by a US investment firm.
Blackstone, which has previously invested in Center Parcs and owns Merlin, is also co-investing and will hold a 'significant family minority' stake in the business.
Paul Flaum, Group Chief Executive Officer of Bourne Leisure, said: “Today 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’s and Warner Leisure Hotels, as well as benefit from the increasing demand for UK domestic holidays.”
Bourne Leisure, 'a leader in the UK domestic holiday market', employs more than 16,000 team members, hosting 25,000 holiday-home owners, and attracting 4.5 million guests to 56 sites across the UK every year.
It operates through its three brands; Haven, which has a site in Pagham; Butlin’s, which has a resort in Bognor Regis and Warner Leisure Hotels.
Lionel Assant, European Head of Private Equity at Blackstone, said: “We are long-term believers in the UK 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 in partnership with Bourne Leisure’s founding families, the management team led by Paul Flaum, as well as colleagues from Blackstone Real Estate, to further grow this great company.
"Our strong track record investing in the UK leisure sector will allow us to further enhance the company’s 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.”