Acquisition By London & Regional Properties
Whitbread ran more than 50 David Lloyd Leisure (DLL) clubs in the UK and Northern Ireland with a further number in Spain, the Netherlands and Belgium. However, by the mid-2000s, the business was giving Whitbread a poor financial return, and on 2 August 2007 they sold it to London & Regional Properties and Bank of Scotland for £925 million. Whitbread used the proceeds from the sale to repay debt.
London & Regional Properties already owned and operated Next Generation Clubs; the businesses were merged under the Next Generation Clubs' management team led by Scott Lloyd. As of 2011, Scott Lloyd remains the current CEO.
Read more about this topic: David Lloyd Leisure
Famous quotes containing the words acquisition, london and/or properties:
“Always and everywhere children take an active role in the construction and acquisition of learning and understanding. To learn is a satisfying experience, but also, as the psychologist Nelson Goodman tells us, to understand is to experience desire, drama, and conquest.”
—Carolyn Edwards (20th century)
“The most winning woman I ever knew was hanged for poisoning three little children for their insurance-money, and the most repellent man of my acquaintance is a philanthropist who has spent nearly a quarter of a million upon the London poor.”
—Sir Arthur Conan Doyle (1859–1930)
“A drop of water has the properties of the sea, but cannot exhibit a storm. There is beauty of a concert, as well as of a flute; strength of a host, as well as of a hero.”
—Ralph Waldo Emerson (1803–1882)