PRN: Return to Family Ownership Key to Long-Term Growth for the Haulfryn Group
Return to Family Ownership Key to Long-Term Growth for the Haulfryn Group [31-August-2011] WINDSOR, England, August 31, 2011 /PRNewswire/ -- Haulfryn Group, one of the UK's largest owners of prestigious holiday and residential parks, has stated that its return to 100 per cent family ownership after 43 years is key to the company's long-term growth and branding.
Return to Family Ownership Key to Long-Term Growth for the Haulfryn Group
WINDSOR, England, August 31, 2011 /PRNewswire/ --
Haulfryn Group, one of the UK's largest owners of prestigious holiday and residential parks, has stated that its return to 100 per cent family ownership after 43 years is key to the company's long-term growth and branding.
Founded in 1935 by the Minoprio family, the Haulfryn Group operates 35 luxury holiday and residential lodge parks across North Wales, the South East and South West. The group celebrated its 75th anniversary last year with a substantial rise in profits, and a Â£60 million refinancing deal with Barclays Corporate.
Haulfryn Group was family owned until 1968, when international investment group 3i acquired 10 per cent of the equity as part of Haulfryn's growth Â strategy. Â 3i's stake increased to 28 per cent on a major expansion in 1991 of the company's estate. Â In 2004 Haulfryn Group reduced 3i's stake to 25 per cent via a share repurchase and has now completed the full repurchase.
The move follows a change in direction by the investor group, which has been shedding its private company investment portfolio over the last decade.
"By the year 2000, it became clear that 3i were moving away from their original company investment aims, and adopting a different corporate purpose, in heading towards a more conventional company buyout and resale strategy," said Stephen Minoprio, Chairman of the Haulfryn Group. "After long and difficult negotiations, we finally struck a deal to repurchase 3i's shares, with the help of the refinancing package we arranged with Barclays Corporate in 2010."
The move to return to a family-owned business is a decision that has been popular with customers, and is a key part of its long-term success, Stephen Minoprio continues.
"A continued and strong family involvement in the business is important to us, and marks a distinction between the way we and other holiday and residential park companies operate. Family members hold a number of key positions on the board, and the Minoprio name plays an important role in the Haulfryn brand. This family approach is certainly important to our customers, and reinforces our personalised attitude towards our business, and our belief that we have a superior product in the marketplace."
Earlier this year, Haulfryn sold the UK's most expensive caravan - worth Â£550,000 at its park, The Warren, in Abersoch North Wales.
Notes to editors:
The Haulfryn Group is the UK's largest combined holiday and residential park operator. A family run business spanning five generations, Haulfryn has a total of 20 holiday and 15 residential parks in some of the most attractive UK locations. This year Haulfryn celebrates its 76th anniversary, marking over seven decades as a successful British company. For more information please visit http://www.haulfryn.co.uk or call 08433-092411.