London, 4/24/2021: Reliance Industries Ltd has bought Britain’s iconic country club and luxury golf resort, Stoke Park for 57 million pounds ($79,116,010). Over the past four years, Reliance has announced USD 3.3 billion in acquisitions, with 80 percent being in the technology, media, and telecom (TMT) sector.
The acquisition adds to Reliance’s current stake in Oberoi hotels and hotel-managed residences in Mumbai that it’s developing.
The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance’s consumer and hospitality assets, the firm said in a filing late on Thursday.
“Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited, has on April 22, 2021, acquired the entire issued share capital of Stoke Park Limited, a company incorporated in the United Kingdom, for 57 million pounds,” it said.
Stoke Park Limited owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities include a hotel, conference facilities, sports facilities and one of the highest rated golf courses in Europe.
“RIIHL will look to enhance the sports and leisure facilities at this heritage site, while fully complying with the planning guidelines and local regulations,” Reliance said.
This acquisition will add to the consumer and hospitality footprint of the oil-to-telecom conglomerate.
The group already has investments in EIH Ltd (Oberoi Hotels) and is developing state-of-the-art convention centre, hotel and managed residences in BKC Mumbai. Reliance is the largest non-promoter shareholder in EIH Ltd.
This is the second major acquisition of an iconic British company by Ambani (Owner of Reliance). He bought British’s iconic toy store Hamleys in 2019 for USD 89 million.
Stoke Park has always had a close relationship with Pinewood Studios and the British film industry. Two James Bond movies Goldfinger (1964) and Tomorrow Never Dies (1997) were filmed at Stoke Park.
Stoke Park hosts 49 luxury bedrooms and suits, 27-hole golf course, 13 tennis courts and 14 acres of private gardens.
Although the Stoke Park estate has a recorded history of over 900 years, it was used as a private residence until 1908, according to its official website.
The Mansion was designed by James Wyatt (architect to George III) who worked on the development of the Mansion and monuments from 1790 to 1813. The estate was used as a private residence until 1908.