In a significant move that will further reshape the landscape of US theme parks, Herschend has entered into an agreement to acquire Palace Entertainment’s entire portfolio from Parques Reunidos.
This acquisition will add over 20 entertainment venues across 10 states to Herschend's expanding portfolio, bolstering the company’s position as the world’s largest family-held themed entertainment organization.
“This year, we’re celebrating 75 years of bringing families closer together — and looking ahead to the next 75,” said Andrew Wexler, the 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.”
The portfolio of 20+ attractions acquired from Parques Reunidos includes theme parks, water parks, family entertainment centers, campgrounds and hotels, with properties such as Kennywood in Pennsylvania, Dutch Wonderland in Lancaster and Lake Compounce in Connecticut. These well-loved locations are home to classic wooden coasters, modern thrill rides, and family-friendly experiences, offering something for every generation of theme park fans.
Palace Entertainment's theme parks in the US:
For Herschend, the acquisition further solidifies its place in the industry, joining forces with well-established destinations that already hold a special place in the hearts of millions. "We look forward to building upon the strong foundation that Palace Entertainment has created," said 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."
With the sale of its US portfolio, Parques Reunidos will accelerate growth across its European properties, reinforcing its position as a leading operator in the region. The company will focus on commercial and operational excellence, digital transformation and sustainable growth while continuing to invest in its parks to deliver memorable experiences for its guests.
As part of the transition, Herschend has committed to maintaining operational continuity at all the acquired properties, ensuring smooth day-to-day operations while integrating these venues into its family-friendly culture. The company has outlined plans to prioritize employee support, maintain high standards for guests, and foster open communication with communities as the transition progresses.
While the transaction is still subject to customary closing conditions, it is expected to be finalized in the near future.
