Park Resorts sold off

Article Published On 19 February 2007

Park Resorts, the UK-based caravan park operator, is believed to be the subject of a major acquisition offer from a private equity firm.

GI Partners, which has operations in London and California, is thought to be in talks to buy Park Resorts for a figure of around £500 million, reports the Times.

Park Resorts' majority shareholder is currently ABN Amro Capital, which bought the company in December 2004 for £165 million and merged it with a previous acquisition, GB Holidays.

Neither party has commented on the speculation as yet.

Park Resorts currently runs 35 caravan parks throughout the UK and boasts annual profits of £30 million.

The parks have proved especially popular with families in recent times for the wealth of leisure and entertainment options on offer and the company has made particular strides in Essex, where it boasts seven parks alone.

 

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