Blackstone has agreed to the sale of Butlin’s back to one of the founding families of Bourne Leisure for an undisclosed amount.
The deal will see a newly formed company backed by the Harris family take control.
The US investment giant acquired Butlin’s alongside the Haven and Warner Leisure Hotels brands through its purchase of Bourne Leisure from the founding Harris, Cook and Allen families in early 2021.
Butlin's itself was founded in 1936 by Billy Butlin, who opened the first site in Skegness today it operates three resorts in Minehead, Bognor Regis and the original site in Skegness which together attract more than 1.5 million guests every year.
Earlier this year Blackstone sold the real estate assets of Butlin’s for approximately £300 million to the Universities Superannuation Scheme.
What they said
Lionel Assant, European head of private equity, Blackstone, 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. We wish everyone there every success for the future.”
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.”
Paul Flaum, group CEO of Bourne Leisure, said: “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.”