PGL, the adventure holiday firm with a major centre at Liddington near Swindon, is under new ownership following the takeover of parent group Holidaybreak.
Indian travel operator Cox & Kings, which has been pursuing Holidaybreak for some time, had its £312m accepted earlier today. The price represents a 35.5% premium to Holidaybreak’s share price last Friday and a 54% premium to its average share price for the past three months.
As well as PGL, Holidaybreak also runs the Eurocamp and Keycamp specialist holiday brands.
PGL was formed in 1957 to provide adventure holidays for children – its first one involved canoeing on the River Wye near its Hereford base. It has since expanded into residential school trips and family breaks. Originally a family-run business, it has undergone a number of ownership changes.
It acquired the 150-acre Liddington site near Wanborough in 2009 and opened it last year as a major adventure centre. The site was originally built as a residential training centre for Swindon-based financial services giant Allied Dunbar, later becoming a hotel.
It now has 192 bedrooms, more than 30 seminar and conference rooms, woodland, two lakes, a pavilion, gym, all-weather pitch and 11 full-sized football pitches.
