Center Parcs may attract bid from world's largest fund in auction this month

Center Parcs opened the Co Longford site in the summer of 2019.

One of the world's largest private equity funds is expected to join the bidding this month to buy the $4bn (€3.7bn) Center Parcs and the six resorts in owns across Ireland and Britain, including the holiday resort in Co Longford. 

CVC Partners may make an indicative bid before a deadline later this month set by its current owner, Sky News has reported. 

The giant equity fund has billions of euro invested in companies around the world in which it controls outright or holds minority stakes. 

It is best known here for the stakes it has in the companies that run Six Nations Rugby, United Rugby, and Premiership Rugby, as well as in French soccer and World Volleyball. 

However, it has also invested in British holiday parks operator Away Resorts, and has major shareholdings in public relations firm Teneo, Swiss watchmaker Breitling, and retailer Authentic Brands.  

Center Parcs had been put up for sale earlier this year by its current equity fund owner, Brookfield Property Partners, which has owned the resorts company for eight years, and appointed Bank of America, Barclays, and Eastdil Secured to run the auction. 

Center Parcs is expected to attract a number of bids from investment funds, including possibly from French-based Antin, according to the report. 

CVC would likely make any bid through its long-term Strategic Opportunities fund. 

A spokesman said that CVC declined to comment on the report. 

Center Parcs only opened the Co Longford site in the summer of 2019 and was soon forced to close by the pandemic, and reopened only in June 2021.

However, its most recent accounts show the new resort rebounded in its first year back with profits of just over €8m on revenues of almost €58m. It employs more than 1,000 people in Co Longford. The Irish resort said in the accounts that demand remained strong.