GB: Brighton Pier Group Acquires Lightwater Valley Attractions Ltd.

Brighton Pier Group, which owns and operates Brighton Palace Pier, nine premium bars and eight indoor mini golf sites, has acquired Lightwater Valley Attractions Ltd. including its related Lightwater Valley Theme Park in North Yorkshire at a transaction value of 5 million GBP (approx. 5.8 million EUR). The take-over deal will be funded from a 2 million GBP extension to the group’s revolving credit facility and existing cash resources. This acquisition executes on the company’s strategy to create a growth group, operating across a wide variety of leisure and entertainment assets in the UK.

The approx. 70-hectare large Lightwater Valley park offers a wide range of attractions for families, including rollercoasters, small attractions, indoor play and shows. As a result of its last “regular” season (financial year ending 28 February 2019), the park recorded revenues of 5.1 million GBP (approx. 5.95 million EUR) and EBITDA of 1.1 million GBP (approx. 1.3 million EUR). The past financial year 2020 was marked by the Covid-19 crisis, with scarce revenues of 2.4 million GBP (about 2.8 million EUR). Nevertheless, Lightwater Valley Theme Park, which currently opens to visitors from Fridays to Sundays, is optimistic about the future, underlined by new offerings. This year, a new safari-themed area is to open with six attractions for children aged up to ten years, including a “Savannah Express”, “Hot Air Balloons” and a “Monkey Drop”. Also new will be the “Treetop Trails” high ropes course.

Anne Ackord, Chief Executive Officer of Brighton Pier Group, comments: “I am delighted to welcome all the team at Lightwater Valley to The Brighton Pier Group. I believe that, together, we can develop Lightwater Valley into the premier amusement destination across Yorkshire and the surrounding areas. This acquisition continues the company’s development as a consolidator within the leisure industry, and we are excited to explore further growth opportunities as they arise. I believe our business are ideally suited to take advantage of the pent-up demand as the UK unlocks its restrictions. The booming ‘staycation’ market is going to significantly grow UK tourism over the coming months as international travel restrictions remain in place, this provides a great opportunity over the summer for all the group’s operations.” (eap)