Dec 11, 2007 7:59 pm US/Eastern
Kennywood To Be Sold To Spanish Company
PITTSBURGH (KDKA) ―
The Kennywood amusement park is being sold.
Parques Reunidos, based in Spain, is acquiring the park.
It is an international operator that manages 61 amusement, animal and water parks in the U.S. and Europe, with total annual visitors exceeding 22 million and revenues exceeding $570 million.
"The Kennywood experience—as visitors have come to love and expect—will continue. Nothing will seem different, even to the folks working at the parks. Existing management and staff will remain in place," said Harry Henninger, Chairman of Kennywood Entertainment. "In recent years, we've had talks with other operators wishing to acquire us, but Parques Reunidos is the first one to share our vision and philosophy."
The Henninger and McSwigan families have owned Kennywood since 1906.
A March completion date is anticipated.
The sale includes Kennywood, Sandcastle Waterpark, Idlewild and SoakZone.
Stay with KDKA for more information on this developing story.
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