Herschend has completed its acquisition of the 24 American attractions of Palace Entertainment, in particular Themed parksWater parks and FEC.
The agreement between Herschend and Palace EntertainmentThe American subsidiary of Reunidos parques was announced in March this year.
The theme parks of the Palace Entertainment portfolio included Kennywood and Dutch Wonderland in Pennsylvania and Lake Compournce in Connecticut.
Currently, Herschend operates 49 properties. Its portfolio before acquisition included 29 themed parks, tourist and complex attractions, such as Dollywood and Silver Dollar City.
“It’s a historic moment – not only for Herschend, but for each host, guest and community that we serve,” said Andrew WexlerCEO of Herschend.
“For us, it is so much larger than adding attractions to our family brands portfolio – growth concerns people.
“It is a question of creating an excellent place to work so that our hosts like what they do and can create memories that deserve to be repeated for our guests for generations to come.”
Herschend supervises 49 properties
Agreement is an important step for both companies, because Herschend Works on its expansion in family entertainment and hospitality, while Parques Reunidos focuses on its main market in Europe.
“Our goal has led us both brilliant and difficult seasons – and it will continue to guide us as we enter this next chapter,” said Chris HerschendChairman of the board of directors and third generation owner.
“We focus on what is good for the company, our hosts and the communities of which we are honored to be a part.
“This process will take time, and we know that we will not get everything perfect, but we are committed to listening, communicating and improving each other.”
John ReillyManaging Director of Palace entertainmentpreviously declared that Herschend is “the ideal organization to direct the unique properties of Palace Entertainment”.
Herschend launched a Leverage of $ 1.1 billion To help finance the acquisition, first reported by Bloomberg.
Images graceful of Herschend