The Spanish entertainment operator Parques Reunidos is selling all of the US properties run by its Palace Entertainment subsidiary to Herschend, the Atlanta-headquartered themed attractions company whose brand portfolio includes Dollywood Parks & Resorts.
The financial terms of the deal were not disclosed. Parques Reunidos stated it was selling its US assets to focus on its core European market. Among the more than 20 properties in the sale are the Pennsylvania-based attractions Kennywood and Dutch Wonderland plus Connecticut’s Lake Compounce, the nation’s oldest continuously operated amusement park.
Herschend added there were no immediate changes planned for daily operations at the newly acquired sites.
“This year, we’re celebrating 75 years of bringing families closer together – and looking ahead to the next 75,” said Andrew Wexler, CEO of Herschend. “Today’s announcement marks a natural expansion and continuation of that vision. By growing wisely and staying true to our purpose, we are building a future where we can continue creating memories worth repeating for generations to come.”
Photo courtesy of Lake Compounce
