Newcastle entrepreneur John Waterworth announced as merged group CEO
A merger between holiday park companies Parkdean and Park Resorts, subject to clearance by bodies CMA and FCA, will see Newcastle-man John Waterworth appointed as the collaboration’s Chief Executive.
The merger with Park Resorts will result in the new venture having 73 Parks, employing 7000 staff and selling 400,000 holidays per year to 1.8m customers. Both head offices in Newcastle and Hemel Hempstead will be retained.
Currently Chief Executive of Parkdean, John has led the company since its foundation in November 1999 with the acquisition of Trecco Bay.
Today Parkdean operates 24 parks and had turnover of £142m and EBITDA of £33.7m for the year ended 31 January 2015. The combined business will generate EBITDA of over £100m.
David Boden, CEO of Park Resorts will retire from the business.
John Waterworth said: “It is a privilege and an honour to be appointed to lead the combined group which will be the foremost holiday park company in the UK. I am excited about the future and working with both teams.
“There are really talented people that thrive on giving customers the best experience and they will have the benefit of opportunities created by the enlarged group It’s 73 parks will span all points of the UK compass: from Scotland to the South Coast and from Norfolk to Cornwall and will be the first ever truly national business.
“David has done a brilliant job in growing Park Resorts into the excellent business it is today and one that I will be proud to take on its next stage of its development.”
David Boden said: “I am delighted that John is taking on the combined business as I have decided that now is the logical time for me to step back and retire from the business. I have known John for a long time and he is the right person to take the enlarged group forward. I look forward to watching the combined business grow and prosper.”
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