Blackstone, CPPIB to buy Legoland for $7.5b

A consortium of long-term investors comprising KIRKBI Invest A/S (KIRKBI), a wholly-owned subsidiary of KIRKBI A/S, the ultimate owner of the LEGO® brand, and owned by the Kirk Kristiansen family; funds managed as part of Blackstone’s core private equity strategy; and Canada Pension Plan Investment Board (CPPIB)  have agreed to the terms of a recommended offer for Legoland operator Merlin Entertainments plc.

The sales price is $7.5 billion.

The buyers said that taking it off the stock market would allow the company to invest more in its assets and deliver on growth plans.

Merlin is the world’s second largest attractions company after Disney. Lego plans to more than double the number of shops in China this year to 140 in its most rapid expansion in any market. And Merlin has three Madame Tussauds in China. Last year, it had 67 million visitors at its 120 attractions across 25 countries, reported CNBC.

The consortium e