Twenty-five adult gaming centres in the UK have been bought by the Gauselmann Group’s AGC operator, Praesepe, it was announced today.
The venues were bought from the William Clark operation and the consideration has not been revealed.
Nick Harding, CEO at Praesepe, said that the locations were “excellent businesses in top locations and managed by skilled and experienced teams.” The acquisition increases the Praesepe holding to 185 locations, mostly AGCs, but also FECs and bingo clubs, which include Europe’s largest club at Cricklewood, London.
Praesepe has been active in the acquisitions field for some time, recently buying Town and County Leisure, which was formed into Merkur Engineering. The group has also this month opened a major FEC and AGC in Largs, Scotland, and has bought another FEC location in Wells-next-the-Sea, Norfolk, England.
Said Harding: "I am delighted to be able to confirm the purchase of the Teddy Clark's AGC brand. It's very important that the businesses we acquire are of the highest calibre and that they can bring something extra to the organisation. These are large, very well run venues in good locations, concentrated in East Yorkshire. Most of the venues include tanning facilities that represent a profitable adjunct to the core business and I am keen that we apply the insight gained by the team at Teddy's to our existing tanning operations. This is another sign of the confidence the Gauselmann Group has in the domestic gaming industry and in UK plc."
Said William Clark: "Teddy's was launched by my father 40 years ago. I think with the sale of a business that has been in the family for such a long time it is only natural to want to hand the reins to someone you know and that you trust. We have been talking with Nick for some six months and I am truly delighted that the business we built up is now under his control. "Nick enjoys a hard earned reputation in the industry for building and sustaining Premier League quality businesses and for delivering best in class customer service. He understands the dynamics and personality of the industry and is a 'roll your sleeves up' style CEO who leads from the front. I look forward to seeing the former Teddy's businesses flourish as part of the growing Praesepe family."
