Browne Jacobson advises The Brighton Pier Group on £5m acquisition of Yorkshire based leisure attraction
Browne Jacobson’s specialist corporate lawyers have advised leisure operator, The Brighton Pier Group Plc on its successful acquisition of the entire issued share capital of theme park, Lightwater Valley for a consideration of up to £5m.
AIM-traded firm Brighton Pier Group, which runs the Brighton Palace Pier and owns a host of miniature golf locations, funded the acquisition through an extension to its revolving credit facility and other existing cash resources.
Lightwater Valley is a 175-acre landscaped theme park based in Ripon, North Yorkshire that includes rides, amusements, crazy golf, children’s indoor and outdoor play and food and drink outlets / facilities. It also specialises in operating seasonal events such as Frightwater Valley at Halloween and Alice in Winterland at Christmas.
The Browne Jacobson team comprised corporate lawyer and consultant, Murdoch Currie and associate, Shania Sood (both based in London). Banking advice was also provided by senior associate Melanie Hilton and associate, Beth Nixon (both based in the firm’s Manchester office). Birmingham based partner Rachel Lyne and associate, Conor Wileman provided regulatory / health and safety advice. London based partner Susan Voice advised on the real estate side of the transaction whilst Manchester based partner, Ian Deakin advised from an employment perspective.
The acquisition will support The Brighton Group’s strategy to become a consolidator within the leisure industry and the Lightwater Valley footprint would give the group an opportunity for long term growth.
Commenting on the acquisition, Anne Ackord, Chief Executive Officer, said: "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."
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