UNITED KINGSTON – The family of Lego brand founder Kirk Christiansen has reached agreement with Merlin Entertainments, owner of the Legoland Parks brand, to buy all of the company’s stock and place the company under private ownership. It already owns 29 percent of the company.
The deal is reported to be worth $6.1 billion.
Merlin is in the process of constructing a theme park in the Town of Goshen, the largest Legoland park in the country.
Merlin Entertainments was formed in 1999. It was then purchased by Blackstone with Merlin acquiring Legoland from the Lego Group. In 2005, KIRKBI, owned by the family of the Lego brand founder, took an equity stake in Merlin. Over the ensuing years, Merlin has developed and runs more than 120 attractions in 25 countries including Sea Life, Legoland Discovery Center, Madame Tussauds, Peppa Pig, Alton Towers Resort and Warwick Castle. (View the historic timeline)
Merlin Board Chairman Sir John Sunderland said the company “has generated meaningful value since IPO with significant growth in revenue, earnings and cash flow.”
He said 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.”
Soren Thorup Sorensen, chief executive officer of KIRKBI A/S, 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.”
He said they are “committed to ensuring Legoland and other activities in Merlin reach their full potential, which will believe is best pursued under private ownership, in order to deliver fantastic experiences to visitors of all ages around the world.”
