
Although financial terms were not disclosed, Blackstone has promised to uphold the RCN’s tradition of providing free holidays for families who are struggling as well as elderly pensioners.
This commitment played an important role in making the decision, says RCN director René van Kieft.
Pact Hinging on Respect for Identity and Goodwill
Founded by the Dutch Reformed Church nearly 75 years ago, RCN was set up to offer affordable holidays to working-class families. The organization, which had a turnover of 74 million euros and a modest profit of 800,000 euros last year, reinvested all its profits in charitable disposals.
Van Kieft said he was confident that Blackstone would respect the parks’ social and religious lineage, noting the firm’s financial resources, plans to keep park staff on hand, and its assertion that it would be a long-term owner. The buyer had been rigorously vetted for human rights due diligence, but their Israel business had not been explored, as its relevance was not apparent then.
Sector Trend and Future Plans
This deal reflects a larger pattern of American investment in Dutch holiday parks, which has also included KKR buying Roompot and Landal GreenParks. With the acquisition, Blackstone, which has already amassed 1,700 homes in the Netherlands worth almost €800 million, would seem to be further establishing a position in the Dutch leisure and housing sector.
Van Kieft said that the proceeds would be re-invested in sustainable investments and for charity purposes, so the original essence of the RCN mission continues to thrive after the change of ownership.