Two years ago, Reliance Industries acquired the iconic British toys retailer Hamleys. Now, the Mukesh Ambani-owned conglomerate is adding another marquee brand to its kitty. Reliance Industrial Investments and Holdings, a wholly owned unit of RIL, is acquiring Stoke Park for £57 million.
Stoke Park owns and manages sporting and leisure facilities in Buckinghamshire, UK. The facilities include a hotel with 49 luxury rooms, conference facilities and sports facilities, including 13 tennis courts and a 27-hole golf course, which it claims is one of the highest rated in Europe. The property is an attraction to wealthy tourists.
James Bond played golf there with Goldfinger in the 1964 blockbuster movie. Stoke Park has also been featured in several productions, including Netflix’s recent drama on the British royalty “The Crown.”
Stoke Park was founded in 1908, but according to its website, the estate has a recorded history of over 900 years and John Penn (1760-1834), a soldier and scholar, was responsible for most of what can be seen there today.
Aerial view of the Stoke Park, Buckinghamshire | Wikimedia commons
Reliance Industrial Investments said “it will look to enhance the sports and leisure facilities at this heritage site, while fully complying with the planning guidelines and local regulations.”
Reliance Industries made fortunes in petrochemicals, oil and gas production, refining, and textiles. Over the last few years, it expanded into newer businesses like retail and telecom looking to diversify and reduce its dependence on the traditional businesses. It also acquired marquee brands like Hamleys and now, Stoke Park.
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The Stoke Park acquisition will also help Ambani expand its consumer and hospitality footprint.
Reliance Strategic Business Ventures holds an 18.83 per cent stake in EIH limited, a company that operates the Oberoi Group of luxury hotels in India. In Mumbai’s central business district of BKC (Bandra Kurla Complex), it has been developing a huge convention centre, hotel and managed residences.
