Holidaybreak completes purchase of PGL
Holidaybreak is due to complete the acquisition of UK schools adventure operator PGL today.
The deal, worth up to £100 million, was approved by a majority of over 98% at an Extraordinary General Meeting this morning.
PGL will become Holidaybreak’s fourth operating division – education.
It is market leader in the outdoor education and adventure sector for UK schools and operates 26 activity centres across the UK, France and Spain with a capacity of 7,100 beds.
It owns 13 of the 17 UK sites and seven of the eight sites in France, with the remainder rented. The property portfolio is valued at around £93 million.
Based in Ross-on-Wye, it employs up to 2,000 staff during the course of the year including 150 at head office.
The acquisition is worth £50 million plus refinancing £50 million of PGL debt. PGL had revenues of £50.6 Million in the year to February 22 with EBITDA of £8.4 million.
Holidaybreak said the purchase offered opportunities for growth organically and by acquisition in the UK and Europe in what is a fragmented sector.
Announcing the deal last month, Holidaybreak said: “It is the intention of the board that PGL’s senior management team and current employees should remain with PGL following completion.”
PGL’s CEO Martin Davies will become managing director of the new Holidaybreak education division.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports