The move sees the iconic British holiday brand leave the private equity backed Bourne stable, which has owned Butlin’s since the mid-1960s.
Private equity house Blackstone, which acquired Bourne from its three founding families in January 2021, confirmed the sale of Butlin’s on Tuesday (20 September).
Bourne will continue to operate the Haven holiday parks and Warner Leisure Hotels brands.
"We are delighted to reaffirm our love for Butlin’s and once again be the new owners of this great brand," said Paul Harris on behalf of the Harris Family Trusts.
"We look forward to working alongside the Butlin’s leadership team as they strive to deliver their strategic plan for the business and help them accelerate their investment plans to give our Butlin’s guests an even better holiday experience."
Butlin’s was founded in 1936 by Billy Butlin in Skegness and today operates three resorts – Skegness, Bognor Regis and Minehead. Bourne, which was established in 1964 by the Harris, Cook and Allen families, acquired Butlin’s in 2000 before the group was taken over by Blackstone in January 2021.
Paul Flaum, Bourne group chief executive, said he was confident Butlin’s new owners would continue to "deliver Billy Butlin’s vision of family fun", adding he was grateful for both the Bourne and Butlin’s teams for their commitment and contribution to a "great British institution".
"Everyone at Bourne is now excited to focus on developing and growing our brilliant Haven and Warner brands," added Flaum.
Lionel Assant, Blackstone’s European head of private equity, said the group was "well positioned" to drive the Haven and Warner brands forward, with proceeds from the sale of Butlin’s to be put towards its investment programmes for both brands – both in terms of upgrading their existing estates and adding new sites.
He added: "Butlin’s is in a strong position to take advantage of the continued growth in the staycation market, and I have no doubt it will continue to flourish. We wish everyone there every success for the future."
