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

Blackstone has agreed a £300m deal to sell Butlin’s back to one of the families that it bought the UK resort group from last year

The ownership of Butlin’s has changed hands to a newly formed company backed by the Harris family, part of former owner Bourne Leisure.

Private equity giant Blackstone and Bourne Leisure confirmed the sale of the iconic UK resorts company for £300m.

Bourne also operates the Haven and Warner Leisure holiday businesses, which will remain in Blackstone’s hands.

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Blackstone acquired the Butlin’s from the founding Bourne Leisure Harris, Cook and Allen families in January 2021.

As part of that deal, the families co-invested alongside Blackstone, and together held a minority stake in the business.

Blackstone European head of private equity Lionel Assant said: “Butlin’s is in a strong position to take advantage of the continued growth in the staycation market, and I have no doubt it will continue to flourish”.

 Paul Harris, on behalf of the Harris Family Trusts, said: “We are delighted to reaffirm our love for Butlin’s and once again be the new owners of this great brand”.

Source: TravelWeekly

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