A hefty price tag has reportedly surprised potential buyers of holiday camp chain Butlin's.
SomersetLive reports that the US private equity firm Blackstone, which currently owns Butlin's, is looking to sell it for around £700 million. The business is made up of three sites – at Minehead, Skegness and Bognor Regis.
Financial services firm Rothschild is handling the sale on Blackstone's behalf, according to The Sunday Times, and has been in talks with potential buyers. A source close to those discussions says Butlin's believes the asking price is fair based on profits of £65 million.
