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 an undisclosed sum today (Tuesday).
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.
Upon completion of the sale, Bourne will concentrate on operating its Haven and Warner Leisure Hotels brands.
Butlin’s operates resorts in Minehead, Bognor Regis and the original site in Skegness which together attract more than 1.5 million holidaymakers a year.
Blackstone European head of private equity Lionel Assant said: “Staying true to our high-conviction investment approach, we believe we are well positioned to drive the continued success of both the Haven and Warner businesses.
“Proceeds from the Butlin’s sale will enable us to continue delivering our ambitious investment programmes across both brands, supporting upgrades to the existing estates and adding new sites to the portfolio, to the benefit of millions of customers.
“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.
“We look forward to working alongside the Butlin’s leadership team as they strive to deliver their strategic plan for the business and help them accelerate their investment plans to give our Butlin’s guests an even better holiday experience.”
Bourne Leisure chief executive Paul Flaum added: “I am immensely proud of what Butlin’s has achieved over the past few years, continuing to deliver Billy Butlin’s vision of family fun.
“It has been a privilege to work with the Butlin’s management team and I would like to thank both the Bourne and Butlin’s teams for their commitment and contribution to this great British institution over so many years. We wish the whole Butlin’s team the very best of luck.
““Everyone at Bourne is now excited to focus on developing and growing our brilliant Haven and Warner brands.
“We have a tremendous opportunity, building on our success to date and working together with Blackstone, to create the most loved holiday and holiday home brands in the UK. I’d like to thank all the teams in Bourne, Haven and Warner for their outstanding commitment and ongoing support in delivering our Bourne mission, to give our Warner and Haven guests and holiday homeowners a great time with memories that last a lifetime.”
Haven is the largest UK caravan operator with 41 holiday parks and 2.7 million visitors a year, with its first new park in seven years added in Skegness in February ahead of a reopening in 2023.
The adults-only Warner hotel chain includes the recently revamped Studley Castle, which opened in 2019, Heythrop Park, which opened in September after a full refurbishment, and the recent acquisition of the Runnymede Hotel near Heathrow.