Asda owner TDR Capital 'in talks to buy Butlin's holiday camp empire' in £600m takeover

Asda owner TDR Capital is in talks to buy holiday camp Butlin's for £600million, according to reports.

Butlin's is a much-loved British institution, and was set up by Billy Butlin in 1936 to provide cheap holidays to British holidaymakers.

Around a million Brits go on holiday at a Butlin's every year, and at its peak the company had nine camps in the UK.