Buyers being sought

Bannatyne ‘seeking to sell stake’ in leisure chain

Duncan Bannatyne vidDuncan Bannatyne, the former Dragons’ Den investor‎, is believed to be seeking a sale of part of his hotels-to-gyms empire.

The Scot (pictured) has hired bankers to find buyers for a ‘substantial’ minority shareholding in the Bannatyne Group after he abandoned plans to float the company.

He is said to be working with DC Advisory and hopedsto attract offers which valued the whole of his business at around £350m, according to Sky News.

Mr Bannatyne spent 12 series on the BBC investment show Dragons’ Den, investing millions of pounds in companies but gaining a reputation as a tough negotiator with his famous phrase “I’m not investing in your company. I’m out”.

His leisure empire trades from 71 gyms, 46 spas and four hotels and with payroll of 3,000 people, he is a significant private sector employer.

‎The business now has more than 210,000 members and expects “significant further growth” this year.

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