MERLIN PARTNERS WITH COCA-COLA GREAT BRITAIN TO EXCHANGE PLASTIC BOTTLES FOR DISCOUNTS

 BY GABRIELLE

Merlin Entertainments is reigniting its partnership with Coca-Cola Great Britain, to offer consumers incentives into some of Britain’s best-loved family attractions in return for their used plastic bottles.

The initiative follows the success of the scheme which launched last year. Visitors can enjoy 50% off entry prices into leading UK attractions in exchange for their used plastic bottles.

23 ‘reverse vending’ machines are now installed at 30 of Merlin Entertainments’ top attraction sites, enabling visitors to recycle 500ml plastic bottles in exchange of a 50% off entry voucher.

Amongst the participating resorts are Alton Towers, Thorpe Park, Chessington World of Adventures and Legoland Windsor Resort.

Warwick Castle and Sea Life Blackpool are also taking part in the recycling scheme.

Sandra Hazel, head of Force for Good at Merlin Entertainments, commented on the return of the recycling programme:

“We are delighted to extend this initiative after great success in 2019. We care about recycling and know that our customers do too. This partnership is a great way to work together to protect our planet and is just one of the initiatives we are invested in to increase recycling at our attractions.”

Kris Robbens, marketing director at Coca-Cola Great Britain said:

“Recycling doesn’t need to be boring and we want to reward and recognise people for doing the right thing and making it easier to recycle on the go. This is just one of the steps we’re taking to ensure our packaging is as sustainable as possible and making it easier for people to recycle”

The reverse vending machines will available at the leading resorts until October 17, 2019.

MERLIN AGREES £6 BILLION ACQUISITION

BY GABRIELLE

Merlin Entertainments has agreed to be acquired by Berkeley Bidco Limited, a recently-formed company owned by Blackstone Core Equity Partners and Kirkbi.

The acquisition has been agreed at £6 billion.

Blackstone is a private equity company, and Kirkbi is the investment arm of Lego’s Kirk Kristiansen family. The Canadian pension fund, CPPIB, is also investing in the deal.

50% of Merlin Entertainments will be owned by Blackstone and CPPIB and the other 50% will be owned by Kirkbi.

The acquisition places Merlin shares at 455 pence per share, meaning the company is valued at £5,905 billion.

Sir John Sunderland, Merlin Entertainment’s chairman spoke about the deal.

“Merlin is a global leader in location based, family entertainment, with a unique portfolio of brands and attractions spanning 25 countries and four continents, and with a proven strategy that has delivered over many years.

“The company has generated meaningful value since IPO, with significant growth in revenue, earnings and cash flow. Following an unsolicited approach by a consortium of investors, and after rejecting a number of their proposals, the Merlin Independent Directors believe this offer represents an opportunity for Merlin Shareholders to realise value for their investment in cash at an attractive valuation.

“We are therefore unanimously recommending it to our shareholders.”

Søren Thorup Sørensen, chief executive officer of Kirkbi, said:

“As the long-term owner of the LEGO brand and as a strategic shareholder in Merlin since 2005, we have great pride and passion for this amazing company, its management team and its employees.

“With a shared understanding of the business and its culture, we believe that this group of investors has the unique collective resources necessary to equip Merlin, including the Legoland Parks and Legoland Discovery Centres, for their next phase of growth.

“We are committed to ensuring Legoland and the other activities in Merlin reach their full potential, which we believe is best pursued under private ownership, in order to deliver fantastic experiences to visitors of all ages around the world.”

Joe Baratta, global head of private equity at Blackstone, commented:

“We are pleased to partner with Kirkbi and CPPIB to acquire a business we know very well.  We are prepared to commit the substantial resources required to support the long-term objectives of Merlin, which will require significant investment to ensure its long-term success.

“We believe we are uniquely placed with our long-dated investment fund, Core Private Equity, to make this investment alongside our partners at Kirkbi and CPPIB.  We look forward to backing Nick Varney and his strong management team in driving Merlin into the future.”