Center Parcs hires SSP chairman Vagn Sorensen just as new bidders Starwood and CVC Capital weigh in

Kasmira Jefford
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Center Parcs’ new chairman Vagn Sorensen will join on 2 June
Center Parcs revealed yesterday it has hired a new chairman at the same time it emerged that Starwood Capital has teamed up with CVC Capital to consider a joint £2.5bn bid for the group.

Private equity owner Blackstone launched a dual track process earlier this year to either sell or launch an initial public offering for the resort operator, which it has owned for nine years.

Starwood, the property-focused US investment firm is understood to be considering a joint bid with Formula One-owner CVC, sources said yesterday. Canada’s Brookfield, Canadian pension fund CPP and KSL Capital Partners are also said to be interested in buying the group.

News of the bid, first reported on Sky News, came as Center Parcs’ long-serving chairman Martin Robinson said he would be stepping down and replaced by Vagn Sorensen, chair of food caterer SSP.

Sorensen brought SSP to market last year in a £2bn float and his arrival could prompt an initial public offering for Center Parcs.

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