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All Leisure Group sets sail with Hebridean Princess
All Leisure Group Plc has acquired cruise ship Hebridean Princess and related assets from Ernst & Young, which acted as administrators for Hebridean International Cruises and Leisure and Marine Holdings. The deal is valued at £1.4 million.
The Hebridean Princess carries 49 passengers and offers luxury cruises around the Scottish isles as well as the Norwegian fjords. In the 12 months ended 30 November 2008, the Hebridean Princess generated revenues of £7 million and pre-tax profits of £1.2 million.
Roger Allard, group chief executive of All Leisure, commented: “This acquisition is our first investment of the funds raised on flotation and represents, as promised, a continuation of the company’s strategy to acquire established niche destination-led brands.”
Thomas Eggar LLP provided legal counsel to long-standing client All Leisure Group. Partner Neil Hart and solicitor Faye Bargery led the team, which advised on contractual issues, intellectual property rights and the employment law aspects of the deal.
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