Short break package holidays
Aug 1990
Jul 1995

Artfresh was a business that provided short break package holidays. It operated under two brands, Superbreak and Goldenrail, addressing respectively the upper and lower tiers of the market. Originally formed as a result of the sale of British Rail Hotels by British Rail in 1983, it was developed and expanded successfully by the two purchasers until their decision to sell the business to its management in August 1990.

At that stage Cinven supported the existing management with a view to helping build and expand an established, cash generative UK leader in a growing market.

In order to benefit from the growth in the market and the increasing trend towards short break holidays and away from longer package deals, further operating efficiencies were planned. In particular this would involve closer integration of the two parts of the company through the implementation of a new computer system. The company was not highly geared and it was likely that investors could obtain a good return through either a flotation of the business or a trade sale.

In July 1995 Eurocamp Plc, which operates in the camping package break sector of the market, bought Artfresh.

Multiple returned on investment: 2x