As part of the signed agreement, Reunidos parques gives all the entertainment properties of Palace Entertainment, which include Adventureland, in Herschend.
Altoona, Iowa – Adventurer and his parent company, based in Pittsburgh Palace entertainmentwill be acquired by a new company, a press release said on Monday.
Herschend, based in Atlanta, which presents itself as the largest family business in the world, announced that it had concluded an agreement with Renidos Parques to take over all the American entertainment properties of Palace Entertainment.
This decision would have enabled Herschend to develop while the reunidos parques are focused on its European market.
The agreement does not come quite a full week after the announcement that Adventureland Inn Closed its doors for good.
Adventureland was opened in 1974 by Jack Krantz and was managed by the family to Palace Entertainment bought in 2021.
“This year, we are celebrating 75 years of families bringing families and waiting for the next 75,” said Andrew Wexler, CEO of Herschend. “Today’s announcement marks a natural expansion and a continuation of this vision.
At the time of agreement, Palace Entertainment wallet included more than 20 sites in 10 states. Among them are Kennywood in Pittsburgh, Pennsylvania; Dutch Wonderland in Lancaster, Pennsylvania; Lake Count In Connecticut
Before the agreement, Herschend said that he had entertained 15 million families a year. Its portfolio is already made up of properties like Original Harlem Globetrotters,, Dollywood parks and stations And Silver Dollar City Parks & Resorts.
“Being a family business for 75 years has given us an in -depth understanding of what makes properties like special – not just rides and attractions, but people who pay their hearts every day,” said the chairman of the board of directors of Herschend, Chris Herschend. “These historical and appreciated properties have been family traditions for generations, and we are honored to help advance this heritage.”
Herschend said that this committed to a smooth transition for all those involved and that it plans to support employees while maintaining continuity for guests. He added that no change is planned for daily operations as the acquisition takes place.
“Herschend is the ideal organization to direct the unique properties of Palace Entertainment,” said PDM of Palace Entertainment, John Reilly. “Herschend is the best in the class to offer a high -quality guest experience in its parks. The members of the Palace Entertainment team and its parks are in large hands while we make this transition. ”