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Daily Mirror
Daily Mirror
Business
Sam Barker

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.

The camps are known for their famous 'Redcoat' guides that help visitors enjoy their stays.

There are three Butlin's camps still open, in Bognor Regis, Skegness and Minehead, and are owned by Bourne Leisure.

But the camps are now up for sale and investment firm TDR has put in a bid this week, Retail Gazette reports.

Another interested bidder is reportedly Fortress Investment Group.

Brits enjoy a range of activities at Butlin's, including swimming pools and water parks (Handout)

Butlin's was first set up because founder Billy Butlin felt let down by a gloomy holiday on a guest-house on Barry Island.

Butlin bought land at Skegness, where he opened the first Butlin's - and it is still open today.

The Butlin's empire struggled with the introduction of cheap flights and Brits increasingly holidaying overseas.

But it has bounced back, partly aided by people wanting to take a holiday in the UK due to the pandemic.

Supermarket chain Asda is jointly owned by TDR and the billionaire Issa brothers Mohsin and Zuber.

The Issas are also interested in buying pharmacy chain Boots after other major bidders dropped out.

Boots has around 2,200 stores in the UK, employing more than 50,000 people.

Last month The Mirror reported a takeover could be worth as much as £10billion.

Boots is owned by US-based company Walgreens Boots Alliance, which unveiled a 'strategic review' of the pharmacy chain in January.

Asda declined to comment on the matter. Butlins, TDR and Fortress have also been approached for comment.

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