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Herschend Family Entertainment, which owns other theme parks like Dollywood and Silver Dollar City, is acquiring all of Palace Entertainment's properties, Herschend said in a news release on Tuesday, Mar. 18. Palace Entertainment is the US subsidiary of Spanish-based Parques Reunidos.
The acquisition means Herschend will own Lake Compounce, a Bristol, Connecticut, landmark known as the oldest amusement park in the US and the home of Boulder Dash, believed to be the East Coast's longest wooden roller coaster. The company will also run Lake Compounce's campground.
Herschend will also take over several Pennsylvania parks, including Dutch Wonderland near Lancaster and Kennywood near Pittsburgh. The purchase includes Sandcastle Waterpark in West Homestead, Idlewild & SoakZone in Ligonier, and two more Lancaster-area properties: the Cartoon Network Hotel and Old Mill Stream Campground.
Two well-known water parks on Long Island and New England are also part of the acquisition. Herschend will operate Splish Splash in Calverton, New York, and Water Country in Portsmouth, New Hampshire.
Herschend will also own two properties in New Hampshire's Mount Washington Valley: Story Land and Living Shores Aquarium in the town of Bartlett.
"This year, we're celebrating 75 years of bringing families closer together — and looking ahead to the next 75," said Herschend CEO Andrew Wexler. "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."
Parque Reunidos sold off its US properties to focus on its European market.
"Herschend is the ideal organization to lead Palace Entertainment's unique properties," said Palace Entertainment CEO John Reilly. "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."
While daily operations at the parks will remain unchanged for now, Herschend officials say they're committed to providing new training and resources for employees while ensuring a smooth transition for guests.
"Being a family business for 75 years has given us a deep understanding of what makes properties like these special — not just the rides and attractions, but the people who pour their hearts into them every day," said Herschend board chair Chris Herschend. "These historic and beloved properties have been family traditions for generations, and we are honored to help carry that legacy forward."
Palace Entertainment has operated more than 20 properties across 10 US states.
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