Hi-de-no! Butlin’s bidders balk at Blackstone’s £700m price tag
Feb 14, 2022
Potential bidders for Butlin’s holiday camps have been balking at a mooted £700 million price tag.
US private equity giant Blackstone is selling the holiday brand, satirised as Maplins in the 1980s TV series Hi-de-Hi, as it reshapes its Bourne Leisure parks arm.
Rothschild, which is handling the sale for Blackstone, is said to have been holding sessions with potential buyers at its London HQ in recent weeks. But one US private equity bidder said he had been shocked at the anticipated price for a business that comprises only three camps at Minehead, Skegness and Bognor Regis.
[From The Times 13 February 2022]
