Established in 2004, Retreat manufactures timber-framed bespoke lodges from its manufacturing base on the edge of the Lake District. The company predominantly provides to the UK lodge and caravan park industry, as well as to private clients, schools, golf courses, and country houses and estates.
ABI is a premium caravan and luxury lodge manufacturer, building hand-crafted holiday homes for over 40 years from its factory in Beverley, East Yorkshire, supporting many of the UK’s most well-known holiday resorts. The acquisition allows the company to enter a new market by adding Retreat’s bespoke manufacturing capability to its repertoire.
For Retreat, joining ABI will provide the support and investment to allow the team, led by managing director Alan Rooke, to continue the development of the business, which has become synonymous with luxury bespoke lodges.
The Retreat transaction is expected to be one in a long line of acquisitions of companies involved in the UK domestic holiday market due to a shift in consumer demand towards staycations, with the summer 2021 staycation market set for a 22% spending surge to £7.1bn.
Mr Rooke commented: “Over the last two decades we have grown Retreat from a business building a handful of lodges a year to one that now builds this many in a month, with an order book extending well into 2022. This success has been built on our core values of quality and outstanding service. In ABI we have found an investor that shares those same values, and who will be able to provide us with the support and investment that we need to continue the Retreat success story for the next 20 years and beyond!”
Richard Jones, Chief Executive of ABI, commented: “I am incredibly excited to welcome Retreat into the ABI Group. Retreat creates beautifully crafted lodges that stand alone in its market. We are delighted that Alan and his team have chosen to work with us to write the next chapter in the Retreat story.”
Benchmark International advised Retreat on the transaction.