June 18, 2020 / 10:28 AM / 17 days ago

KKR buys vacation parks firm Roompot in $1.1 billion deal

FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

(This June 18 story corrects to say in para 5 that PAI Partners bought Roompot for 503 million euros (not 600 million euros) in 2016)

AMSTERDAM (Reuters) - U.S. private equity firm KKR (KKR.N) said on Thursday it had reached an agreement to buy Dutch vacation parks firm Roompot from French private equity firm PAI Partners.

KKR and Roompot did not disclose the price of the deal, but a source familiar with the transaction said it valued the Dutch company at around 1 billion euros ($1.12 billion).

PAI put Roompot up for sale last October. It is the second-largest operator of vacation parks in Europe, operating its own 33 parks in the Netherlands, Belgium and Germany, and providing services to more than 100 other operators across Europe.

With over 2,100 employees catering for approximately 3 million guests per year, the company generates around 400 million euros in annual sales.

PAI Partners bought Roompot for 503 million euros in 2016 from Dutch investor Gilde.

Reporting by Bart Meijer; Editing by Mark Potter and Susan Fenton

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