The family behind one of the UK’s biggest leisure empires is on the cusp of taking back control of Butlin’s in a £300m-plus mega deal.
As first reported by Mark Kleinman for Sky News, the Harris family, which helped establish Bourne Leisure in the 1960s, has offered to buy the operating business back from its private equity owner Blackstone.
It comes after the Harris family sold the Bourne Leisure chain, including the iconic Butlin’s, to Blackstone for more than £3bn last year.
It is understood that Paul Harris is the key family member leading the transaction and a deal could be finalised as soon as next week.
Last month, Universities Superannuation Scheme (USS), the UK’s largest private pension scheme by way of assets, acquired the real estate sites of Butlin’s in a £300m deal.
Butlin’s three sites, in Skegness, Minehead and Bognor Regis, now fall within USS’ portfolio, which hosts around £3bn worth of private real estate and credit assets.
Blackstone declined to comment.