THE saga of the sale of Butlin’s holiday centres ended on Monday when former owners bought it back from American private equity business Blackstone.

The Free Press reported last month how the Harris, Cook, and Allen families who co-founded Bourne Leisure Ltd in 1964 were poised to take back ownership of the business they sold to Blackstone last year.

Now, the Harris family have formed a new company and re-purchased the Butlin’s trading business for a reported £300 million.

Blackstone decided Butlin’s did not fit its core business plan and in May this year put it up for auction.

But a downturn in the market meant it was unable to finalise a sale with any of the several potential bidders.

In July, Blackstone completed a £300 million ground-rent deal with pensions fund Universities Superannuation Scheme to sell the land on which the three Butlin’s centres were built in Minehead, Skegness, and Bognor Regis.

Bourne Leisure, in which Blackstone has a controlling stake, will continue to operate its two heritage brands Haven, which owns Doniford Bay Holiday Park, near Watchet, and Warner Leisure Hotels.

The news was welcomed this week by Minehead Business Improvement District (BID) chairman Graham Sizer.

Mr Sizer said: “Not knowing what they have in mind it is difficult to say, but if the past is anything to go by they did not do a bad job the last time they were in ownership.

“I think the town will hope that there will be continued investment in upgrading.

“Many millions have been pumped into their facilities in recent years and their short breaks since lockdown have proved a great success.

“We would not want that to stop.

“It is good that the current management are totally supportive of initiatives in Minehead that make the town more attractive and vibrant.

“They have a senior staff member on our BID board of directors, so from a BID perspective we feel comfortable.

“There has been no indication that there will be fundamental change. Their current formula seems to work, so why rock the boat.”

Together, the three Butlin’s resorts in Minehead, Bognor Regis, and Skegness attract more than 1.5 million guests every year.

Paul Harris, on behalf of Harris Family Trusts, said: “We are delighted to reaffirm our love for Butlin’s and once again be the new owners of this great brand.

“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.”

Blackstone European head of private equity Lionel Assant said: “Staying true to our high-conviction investment approach, we believe we are well positioned to drive the continued success of both the Haven and Warner businesses.

“Proceeds from the Butlin’s sale will enable us to continue delivering our ambitious investment programmes across both brands, supporting upgrades to the existing estates and adding new sites to the portfolio, to the benefit of millions of customers.

“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.”

Bourne Leisure group chief executive Paul Flaum said: “I am immensely proud of what Butlin’s has achieved over the past few years, continuing to deliver Billy Butlin’s vision of family fun.

“It has been a privilege to work with the Butlin’s management team and I would like to thank both the Bourne and Butlin’s teams for their commitment and contribution to this great British institution over so many years.”