Buchanan Communications is to handle financial public relations for
Brands Hatch Leisure, the owners of Britain’s most famous racetrack, as
it prepares for flotation later this year.
As well as the Brands Hatch track in Kent, Brands Hatch Leisure also
owns circuits at Cadwell Park in Lincolnshire, Oulton Park in Cheshire
and Snetterton in Norfolk. Announced this week and expected to raise
pounds 8 million, the float will help pay off debt and fund expansion.
Buchanan, which expects to be retained for ongoing PR and investor
relations work after dealing commences in November, has been asked to
drum up interest in the float among private investors as well as
institutions. These include motor sport enthusiasts and Brands Hatch
employees.
‘Part of the message that we are trying to get across is that this
business has been built up as a premier leisure group. It’s now fairly
broad based and their earnings have a good track record,’ said Richard
Oldworth, Buch-anan’s chief executive. He added that the agency would
also target financial analysts focusing on the smaller companies and
leisure sectors.
Headed by Oldworth, the three-man team on the account will report to
Brands Hatch’s chief executive Nicola Foulston.
