The US-based private equity giant is plotting a £2bn takeover of Parkdean Resorts as it seeks a slice of Britain's staycations boom
Parkdean Resorts, which has 66 holiday parks, was formed in 2015 following the merger of Parkdean Holidays and Park Resorts. Pic: Parkdean ResortsThe US-based private equity giant Apollo Global Management is plotting a £2bn takeover of Parkdean Resorts as it seeks a slice of Britain's staycations boom.
Sky News has learnt that Apollo is among the bidders picked by Parkdean's owners to progress to the next phase of a sale process. City sources said on Tuesday that Bourne Leisure Group, the owner of Butlin's and Haven Holidays, had been eliminated from the auction in recent days.There is strong demand for domestic holidays as COVID restrictions linger at many overseas destinationsAdvertisement
During the last six months, Park Holidays has been bought by Sun Communities of the US for nearly £1bn, while CVC Capital Partners snapped up rival Away Resorts. Sun Communities also bought Park Leisure, a smaller operator, in a deal worth about £180m, while Butlin's is now also on the market.
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