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:
“Wars and revolutions and battles are due simply and solely to the body and its desires. All wars are undertaken for the acquisition of wealth; and the reason why we have to acquire wealth is the body, because we are slaves in its service.”
—Socrates (469–399 B.C.)
“An actor who knows his business ought to be able to make the London telephone directory sound enthralling.”
—Donald Sinden (b. 1923)
“The reason why men enter into society, is the preservation of their property; and the end why they choose and authorize a legislative, is, that there may be laws made, and rules set, as guards and fences to the properties of all the members of the society: to limit the power, and moderate the dominion, of every part and member of the society.”
—John Locke (1632–1704)