Holiday resort owner Parkdean Resorts is bought by private equity firm in £1.35bn deal
- Credit: Picture: Nick Butcher
A holiday park operator has been bought by a Canadian business in a £1.35bn deal.
Parkdean Resorts, which owns a string of caravan and holiday parks across the region, has been acquired by private equity firm Onex.
Parkdean, which was formed by a merger between Park Resorts and Parkdean Holidays in 2015, owns more than 73 sites across the UK.
In January the operator announced £7.5m worth of investments in improvements across its East Anglian sites as part of a £50m investment across the country in preparation for the 2017 holiday season. Parkdean operates California Cliffs, Breydon Water, Vauxhall and Cherry Tree holiday parks near Great Yarmouth as well as Manor Park in Hunstanton, Heacham Beach, Kessingland Beach and Summerfields at Scratby. When the deal was announced Onex managing director Tony Morgan described Parkdean as a 'market-leading affordable holiday park business'.