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/ CBS Pittsburgh
Kennywood, Idlewild and Sandcastle are being sold to a new company.
Madrid-based Parques Reunidos has agreed to sell the parks to Herschend, the same company that owns award-winning destinations such as Dollywood, Silver Dollar City Parks and Resorts, and Wild Adventures theme parks.
“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.”
“We look forward to building upon the strong foundation that Palace Entertainment has created and welcoming these properties and hosts into the Herschend family of brands,” added Wexler. “The teams at these parks have done an incredible job building beloved destinations in their communities, and we look forward to learning from them, growing together, and building on their success. This is an exciting opportunity for all of us to continue creating exceptional experiences for guests and meaningful opportunities for our teams.”
Herschend said it is committed to ensuring a smooth transition as the sale is finalized and “no immediate changes are planned for daily operations,” according to a news release.
“Herschend is the ideal organization to lead Palace Entertainment’s unique properties,” said John Reilly, Palace Entertainment’s Chief Executive Officer. “Herschend is best in class in providing a high-quality guest experience within its parks. Palace Entertainment’s team members and its parks are in great hands as we make this transition.”
Herschend says it has been a family business for the last 75 years, while Kennywood had been a family business since 1906 until Palace Entertainment bought it in 2007. After the deal, the park got rid of rides like the Turnpike and Log Jammer to make way for attractions like the Sky Rocket and Steel Curtain.
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