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Sykes acquires cabin operator Forest Holidays
Independent rental agency Sykes Holiday Cottages is acquiring a controlling stake in Forest Holidays, owner and operator of environmentally sensitive cabins.
Forest Holidays owns and operates cabins across Britain’s forests.
To date, Forest Holidays has invested over £100 million into Britain’s forests, increasing recreational use, improving facilities, and creating and maintaining trails.
Forest Holidays has 12 forest locations with many in National Parks and Areas of Outstanding Natural Beauty, including the Loch Lomond and Trossachs National Park in Scotland
It is opening another location later this year in the Brecon Beacons National Park in Wales.
As part of the combination, Forest Holidays’ existing institutional investor group, which is led by Phoenix Equity Partners and includes LDC, will realise their successful investment.
Forestry England, Forestry and Land Scotland and Natural Resources Wales will divest their legacy minority stake, while remaining supportive landlords to Forest Holidays.
Sykes, provides access to over 22,500 holiday homes.
The two businesses will be run independently by their existing leadership teams within a newly formed parent company.
Graham Donoghue, CEO of Sykes, said: “Forest Holidays is the perfect complement to our existing holiday cottage rental business.”
“It’s also a transformative acquisition for Sykes which creates a UK-focused multi-brand holiday group with market-leading technology, service and product..”
The combined group will employ more than 1,700 people and is estimated to take over 2.65 million customers on holiday in 2022.
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