Butlin's Sold Back To Family Firm For £300m
The holiday business, Butlin's, has been bought back by its original owners more than 18 months after it was sold.
Current owners Blackstone and Bourne Leisure have agreed to sell the firm back to the Harris family for £300m.
Butlin's, which has a head office in Hemel Hempstead, Hertfordshire, was sold in January 2021.
Paul Harris, for Harris Family Trusts, said it was "delighted to reaffirm our love for Butlin's and once again be the new owners of this great brand."
Founded in 1936 by Billy Butlin, the first all-inclusive seaside holiday camp opened its first site in Skegness, Lincolnshire.
Today, it operates three resorts, in Minehead, Bognor Regis and in Skegness, which together attracts some 1.5m guests annually, the firm said.
Lionel Assant, European Head of Private Equity at Blackstone, 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."
The Harris family continue to have a stake in Bourne Leisure, which operates the Haven and Warner Leisure Hotels brands.
Find BBC News: East of England on Facebook, Instagram and Twitter. If you have a story suggestion email eastofenglandnews@bbc.co.uk
Related Internet Links
The BBC is not responsible for the content of external sites.
The Global Semiconductor Landscape: Navigating Through Market Shifts Post Samsung's Earnings Triumph
In the first quarter of 2024, Samsung Electronics announced a staggering 931% surge in operating profits, reaching 6.6 t... Read more
The Balancing Act: Google's Paywalled AI And The Quest For Digital Equity
In an era where artificial intelligence (AI) is no longer the stuff of science fiction but a daily utility, Google's lat... Read more
The Meteoric Rise Of Anthropic: Valuation And The Future Of AI
In an era where artificial intelligence (AI) is not just a buzzword but a cornerstone of technological advancement, Amaz... Read more
The Future Of Sports Strategy: Navigating The AI Revolution
In the fast-evolving world of competitive sports, the introduction of Artificial Intelligence (AI) has been nothing shor... Read more
The Future Of Sports Strategy: Navigating The AI Revolution
In the fast-evolving world of competitive sports, the introduction of Artificial Intelligence (AI) has been nothing shor... Read more
Beyond The Hype: The Harmonious Fusion Of AI And Music Genres
In the evolving symphony of the music industry, artificial intelligence (AI) is no longer just a futuristic concept but ... Read more