Gala Coral pays out for Cumbrian bookie
Nottingham-based betting giant Gala Coral has acquired a £66m-turnover bookmaker.
Gala bought Cumbria's Chas Kendall, which runs 30 outlets, for an undisclosed sum.
The acquisition will allow Coral – part of the Gala Coral Group, the UK’s third largest bookmakers and largest bingo operator – to continue its expansion plans in the North West.
Chas Kendall, which reported sales of £66m last year, can trace its roots back to 1925 and now employs more than 150 staff. It was previously owned by a group of shareholders including the family of founder Chas Kendall.
The shareholders of Chas Kendall were advised by the corporate finance team at Moore and Smalley, while Napthens provided legal advice. Stephen Gregson, corporate finance director at Moore and Smalley, said: "Chas Kendall has established itself as the leading independent bookmakers in Cumbria.
"The business is a natural fit with Gala Coral's existing footprint and also its culture. It was important to the shareholders that they found the right acquirer for the business and they know they have done so in Gala Coral."
Keith Melling, head of corporate at Napthens, added: "Chas Kendall is a traditional business which is firmly rooted in the North West, and this acquisition will give Coral a further foothold in this region. The backing of such a large operator as Coral will also give Chas Kendall a real boost."
