Caravan park operator Park Resorts is merging with rival Parkdean Holidays to create a near-£1bn giant with 73 sites around the country.
The new company will be the biggest holiday parks business in the country, catering for an estimated 1.8m customers a year at locations stretching from the coastal town of Eyemouth in Scotland to Holywell Bay in Cornwall. It will generate more than £100m in adjusted profits and have a value of £960m, according to Electra Private Equity, the majority owner of Park Resorts.
A merger between Parkdean, which is backed by buy-out house Alchemy Partners, and Park Resorts has long been on the cards, with talks understood to have been on and off for years. The deal is thought to be the largest in the holiday homes industry since Bourne Leisure bought Rank’s holidays division 15 years ago.
Full content: The Financial Times
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