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Holidaybreak ends camping sale talks
Holidaybreak is to retain its camping division after failing to achieve the price required for the sale of the business.
The specialist holiday group said several expressions of interest received earlier in the year had been fully investigated.
“However, the board has now decided to end these discussions as the proposed indicative offers were below the value that the board attributes to camping as an integral part of the group,” a statement said.
Chief executive Carl Michel said: “The board has ended the process regarding camping and believes that keeping it within the group will deliver the greatest value to shareholders going forward.
“With the growth of the other divisions, camping now represents less than a third of the group by turnover and is expected to generate cash and deliver good margins in the full year.
“The group is in good shape and continues to explore both organic and acquisition opportunities across all divisions.”
The company statement added: “Given the strength of its balance sheet and its excellent cash generation, Holidaybreak remains well positioned to grow by acquisition. As stated on May 17, management continues to consider a number of potential transactions.”
Phil Davies
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