Two holiday parks on the West Norfolk coast are set for new ownership after a £1 billion merger which will create the UK’s biggest holiday home park operator.
Park Resorts, which owns Heacham Beach Holiday Park and Manor Park Holiday Park in Hunstanton, is merging with rivals Parkdean Holidays. The merger will bring together Park Resorts business in East Anglia and the North West with Parkdean’s interests in the South West and Scotland.
The merger still has to gain approval from the Competition and Markets Authority and the Financial Conduct Authority.
The owner of Park Resorts, private equity firm Electra, said the merger with Parkdean Holidays would create a company with annual profits of more than £100m.