Merlin Entertainments has announced that it is to sell off its Lego & Legoland Discovery Centres for £200 million.
The 29 mid-sized attractions will be transferred to the Lego group before the end of 2025.
They are located in 29 urban areas across nine countries, offering indoor play experiences, workshops, and Lego shops.
The sale includes the two UK-based Legoland Discovery Centres in Manchester and Birmingham.
There are 15 centres in North America and 7 across Australia, China, and Japan.
Merlin has been moving to restructure its operation in recent months following weakened financial performance.
Portfolio review
The company’s credit rating was downgraded earlier this year, with analysts stating that the British business was experiencing “cash burn”.
Merlin’s large Legoland theme parks, including the one at Windsor, are not part of the sale.
Merlin chief executive Fiona Eastwood described the sale Legoland Centres’ sale to the founding Lego company as a “natural step”.
“It is now a natural next step for the centres to become part of the Lego Group, allowing Merlin to strengthen its focus on driving the growth and success of Legoland Resorts,” she said.
Eastwood said that Merlin would also now focus on the company’s other attractions worldwide.
“Together with the LEGO Group, we look forward to the opportunities ahead as we build on our shared commitment to delivering exceptional experiences for families across the globe.”