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Queensborough has sold its Leisure Great Britain caravan park business to management for £40m.

Queensborough, the caravan park and leisure attraction operator, is to be taken private in a £23m management buy-out.

Queensborough is acquiring 46 Deep Pan Pizza outlets from City Centre Restaurants for £10m, and will convert them into a chain of Italian-style trattorias.

Queensborough Holdings is acquiring Pleasureworld, OLP Holdings and Loreca, which run fairground rides and caravan sites, funded by a £10m cash call.