The Butlin's chain of holiday camps is up for sale for an eye-watering £700 million.
According to the Sunday Times, the current owner, the US private equity firm Blackstone, wants to get rid of the seaside resorts as part of a wider restructure of its Bourne Leisure holidays business. The paper reports that Rothschild, which is handling the sale, has been hosting sessions with potential buyers in London recently.
However, one US private equity bidder said he was shocked at the price for a business that now comprises only three camps: Minehead, Skegness, and Bognor Regis. All other ex-Butlin's camps have either been decomissioned to make way for housing, for example, or have been sold to other holiday companies.
