Investment trust to buy Gala Bingo

Tue, 27 Oct 2015 | BUSINESS SALE

Gala Bingo is to be sold to investment trust Caledonia in the latest change within the betting sector this year.

Caledonia has agreed to a sale price of £241 million, which will see it take on Gala's 130 bingo clubs and over a million members.

The chain is the largest UK high street operator and holds 38 per cent of the UK's retail bingo market. The firm's parent company, Gala Coral, will hold onto ownership of the online division, galabingo.com.

Duncan Johnson, head of unquoted investments at Caledonia, said that Gala has a “defensive, enduring business model”, which not only offers strong cash generation, but also a good dividend yield, meaning that it fits “ideally with the investment criteria sought by Caledonia”.

The gambling sector has seen a lot of M&A activity this year, with Gala Coral itself in the process of a buyout by rival firm Ladbrokes. This £2.3 billion merger would create the biggest bookie in the UK but is currently under close scrutiny by the Competition and Markets Authority due to the fact that the combined company may be simply too big.

Meanwhile, online giant Betfair has recently purchased Paddy Power's and other online operators 888 and Bwin are also in the process of a merger.


View other businesses for sale.


Share this article



Latest Businesses for Sale

Italian Restaurant/Pizzeria
London, UK

A restaurant has operated on this very prominent, high street corner location for many years and was purchased late in 2016 by the vendor with the intention of adding a retail business to it commercial business. The vendor then invested circa £70,000...

Asking Price: £200,000
Turnover: £550,000

LEASEHOLD


Industrial Textile Services
UK Wide

Serves clients in the automotive, industrial, medical and geotextile sectors. Operates from 16,000 sq ft leasehold premises. Sustains and generates consistent revenue without the need for marketing expenditure. Retirement sale. Offers invited.

Asking Price: Offers Invited
Turnover: £382,000

LEASEHOLD


Confectionery, Nuts & Snacks Re-packer & Distributor
UK Wide

Provides a comprehensive delivery service, with a directly employed fleet of delivery drivers. Highly experienced management team in place, capable of managing day-to-day operations, post-sale. Significant scope for growth with geographic expansion a...

Asking Price: Offers Invited
Turnover: £6,650,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
25
 
Feb
 

Property management platform faces administration | ADMINISTRATION

The parent company of UK property management startup Hostmak...

 
24
 
Feb
 

Clugston Group former headquarters up for sale | COMMERCIAL PROPERTY

St Vincent House in Scunthorpe, which was the headquarters o...

 
21
 
Feb
 

Street food catering firm seeks buyer after entering administration | ADMINISTRATION

Shrewsbury-based catering company MPM Catering has entered a...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
10
 
Oct
 

William Hill in '£4.5 billion' merger discussions with owner of PokerStars | MERGER

William Hill, one of UK’s leading betting companies, i...

 
06
 
Jul
 

Investment firm buys up pub and brewery group | BUSINESS SALE

Liberation Group, a pub and brewery business, is to be bough...

 
20
 
May
 

400-shop sell-off in Ladbrokes and Coral merger | MERGER

The proposed £2.3 billion merger between betting giant...

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