SOUTHINGTON/BRISTOL, CT — One of Connecticut's most beloved attractions will have a new owner this year, according to an Atlanta-based family entertainment company.
Officials with Herschend Family Entertainment out of Atlanta, Ga., announced Tuesday that the 75-year-old company had acquired Lake Compounce, which is located in Bristol/Southington.
The two-town theme park is Connecticut's largest and is considered one of the oldest such amusement parks in the country.
Lake Compunce is home to an amusement park, a water park as well as a popular campground.
Its world-famous "Boulder Dash" roller coaster carved into a nearby mountain is considered a bucket-list ride for coaster enthusiasts.
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According to an announcement from Herschend, Lake Compounce was acquired after a deal was reached with Madrid, Spain,-based Parques Reunidos, which owns Palace Entertainment out of Pittsburgh, Pa., which had Lake Compounce among its stable of properties.
Lake Compounce is one of 20 "historic and beloved entertainment venues" acquired by Herschend.
In addition to Lake Compounce, Herschend is also acquiring "Kennywood" in the Pittsburgh, Pa., area and the famous "Dutch Wonderland" in Lancaster, Pa.
Herschend dates back to 1950 when the Herschend family took over a small cave tour in the Ozark Mountains.
Since then, the family-run company has expanded to several theme parks nationally, including the world-famous "Dollywood" theme park in Tennesee, which was founded by iconic country singer Dolly Parton.
Herschend Chief Executive Officer Andrew Wexler said Tuesday's announcement fits in with the company's goal of expansion during its 75th anniversary.
“This year, we’re celebrating 75 years of bringing families closer together—and looking ahead to the next 75,” said 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.”
With this deal, Herschend properties will include theme parks, aquariums, resorts, and immersive attractions that serve 20 million annual guests.
“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.”
Palace Entertainment officials said Herschend is the right buyer for their properties.
“Herschend is the ideal organization to lead Palace Entertainment’s unique properties,” said John Reilly, Palace Entertainment's chief executive officer, in a statement. “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.”
Said Herschend’s Board Chairman Chris Herschend: "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. These historic and beloved properties have been family traditions for generations, and we are honored to help carry that legacy forward.”
Financial terms of the deal were not disclosed.
For more informatoin and the full announcement, click on this link.