Nursery World - ABC sells lucrative voucher business to pay off debts

Australia-based ABC Learning Centres, the world's largest childcare company, and owner of nursery group Busy Bees, has sold its UK childcare voucher business for 90m to the share registration company Computershare.

The sale is expected to be completed on 1 September.

Busy Bees has one of the leading childcare voucher schemes in the UK.John Woodward, group managing director, said, 'We're very confidentabout the future. It's good news for everyone.'

He said the link between the nursery and voucher businesses wouldremain. Computershare had 'a skillset which enhances the whole offer'and wanted to expand the voucher scheme, he said. 'It's now a successfulbusiness from a starting premise to make childcare more affordable forparents.'

The voucher business annual turnover is 240m, involving 'close to12,000' employers and 100,000 parents, Mr Woodward said.

The value of the voucher side had more than doubled in value since ABCbought the combined nursery and voucher businesses from Busy Bees for70m in December 2006, when it was worth around 35m.

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