June 2008: Parques Reunidos, the leading international leisure group headquartered in Madrid, Spain, acquires Kennywood Entertainment Group, for an undisclosed amount.
Kennywood Entertainment operates five theme parks deeply rooted in tradition among American families located in the northeast of U.S.A. including Sandcastle, Story Land, Kennywood, Idlewild & SoakZone and Lake Compounce, with more than 3 million annual visitors in total.
With this latest acquisition, Parques Reunidos reinforces its presence in the U.S. market which now includes 67 different parks from all segments within the industry (Amusement Parks, Animal Parks, Water Parks, Family Entertainment Centres and Cable Cars) distributed throughout Europe, U.S.A. and South America.
SOCIOS advises Parques Reunidos on the transaction execution.
