Pontin's sold to Britannia following sales negotiations
Britannia acquire Pontin's.
The Pontin's holiday camp brand has been acquired by the Britannia Hotel Group in a move that will safeguard the jobs of 850 staff.
According to the Press Association, sales negotiations have been completed between the holiday company, which called in administrators KPMG in November and the owners of the Adelphi hotel in Liverpool.
Britannia owner Alex Langsam said: "The prospects for Pontin's are very exciting. Our plans will take shape without delay as we look towards developing a bright future whilst retaining the best traditions of the past."
He added Pontin's will remain a national treasure and suggested the deal will ensure it can be enjoyed by generations to come.
Rob Croxen, restructuring director at KPMG and joint administrator who led the sale, stated he was "really pleased" that Britannia, a leisure operator with a proven track record, sealed the winning bid.
Sales negotiations have recently been taking place between JD Sports Fashion and Champion Sports Holdings.