Tourism Holdings Limited (THL) reports that private equity group BGH has not contacted them since THL formally rejected a $471 million buyout proposal in early August. THL, which is dual-listed on the New Zealand and Australian exchanges, operates a large campervan rental business, with brands including Britz, Maui, and Apollo. The company rents recreational vehicles and provides tourism-related services across Australia, New Zealand, and North America.
The buyout proposal from BGH was initially made in mid-June. However, according to Chairwoman Cathy Quinn, the company has received no further communication from BGH since the official rejection on August 4. Quinn addressed the lack of contact at the company’s annual meeting, reassuring stakeholders that THL remains focused on its strategic objectives.
Quinn emphasised the importance of internal focus, stating that the board and management needed to remain dedicated to executing the established strategic plan and delivering growth. With no ongoing engagement from BGH Capital, THL is proceeding independently with its operational and expansion strategies.
