Asda owners line up £600m bid for holiday camp chain Butlin’s
Asda owner TDR Capital are in talks to acquire UK-based leisure brand Butlin’s for £600 million, according to reports.
Butlin’s is being sold by Bourne Leisure, which also trades under the Haven and Warner Leisure hotels brands.
Private equity giant Blackstone bought Bourne just under 18 months ago in a deal valuing the group at about £3 billion.
The supermarket chain is jointly owned by TDR and the billionaire Issa brothers Mohsin and Zuber.
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The news comes after the Big 4 grocer announced its interest in acquiring health and beauty retailer Boots in a multi-billion pound takeover in January.
The millionaire business tycoons, who have purchased 6,000 petrol station forecourts around the world as well as the Big 4 grocer just over a year ago.
Interest in a Boots bid comes after the Issa brothers sealed a £6.8 billion takeover bid of Asda last year.
They borrowed £3.5 billion to finance the bid and planned to sell the grocer’s petrol stations to EG Group, their sister company.
