South Lakeland Caravans, the UK leisre group, could soon be sold to L&G Ventures, the buyout division of Legal & General. The two groups are reportedly in advanced discussions and an announcement is expected within the next few days. John Morphet, the founder of South Lakeland, stands to personally make around £100m from the sale. South Lakeland operates 10 caravan parks, the majority of which are in the Lake District, and its latest accounts show sales approaching £31m with operating profits of £11.2m.