Gleneagles Golf Club sold

Thu, 02 Jul 2015 | BUSINESS SALE

Gleneagles Golf Club and Hotel has been sold to Ennismore, the company behind the trendy line of Hoxton hotels and venues in East London.

The acquisition will see Ennismore take control of the luxury Scottish establishment from its current owner Diageo. Although a price for the business sale has yet to be revealed, the BBC reported rumours that the sale went through for around £150 million.

Sharan Pasricha, founder and chief executive of Ennismore, said that the company is “delighted” to be acquiring the iconic hotel.

“We plan to operate Gleneagles as a stand-alone business – alongside the Hoxton – to ensure that its management team can preserve the special appeal of this Scottish landmark,” he added.

Diageo chief executive Ivan Menezes noted that Gleneagles is “not a core business” for Diageo, adding that the sale was prompted by the success of the Ryder Cup, which lead the business to see this as “an appropriate time to realise value through this transaction”.

Gleneagles was built in the 1920s. Last year it played host to the Ryder Cup golf tournament and it has previously hosted G8 leaders in its 232-room hotel.

The latest accounts for the hotel show a turnover of £43 million and operating profit of £2.5 million.


View other leisure businesses for sale.


Share this article



Latest Businesses for Sale

Consulting Engineers Focused on the Built Environment
London, UK

Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.

Asking Price: £2,700,000
Turnover: £5,800,000

LEASEHOLD


Freight Brokerage Services
UK Wide

Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.

Asking Price: Offers Invited
Turnover: £420,000

RELOCATABLE


Food Manufacturer Specialising Flatbread Products
North of England, UK Wide

Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.

Asking Price: Offers Invited
Turnover: £671,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
23
 
May
 

Fintech company Loot collapses into administration | ADMINISTRATION

After failing to secure further backing from the Royal Bank ...

 
22
 
May
 

Spike in M&A activity in the education sector | BUSINESS SALE

In recent months, the education sector in the UK has witness...

 
22
 
May
 

Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION

Celebrity chef Jamie Oliver, who shot to fame after campaign...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
14
 
Oct
 

Diageo wine business sold | BUSINESS SALE

Diageo has negotiated a successful sale of its wine business...

 
26
 
Nov
 

Diageo considers putting whisky business up for sale | BUSINESS SALE

The world’s biggest Scotch whisky distiller, Diageo, c...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources