Herschend adds new park to portfolio

Silver Dollar City operator Herschend Family Entertainment Corp. penned a deal to add a Kentucky theme park to its portfolio of attractions.

HFE has become the majority partner and operator of Kentucky Kingdom and Hurricane Bay in Louisville, Kentucky, according to a news release. The financial terms of the deal were undisclosed.

“We are pleased to turn the park over to a new generation of leadership," said Ed Hart, Kentucky Kingdom's founder, president and CEO, in the release. "Herschend is an outstanding operator who will undoubtedly take Kentucky Kingdom and Hurricane Bay to the next level.”

With the acquisition, HFE expands its holdings in a Kentucky tourism market that's valued at $11.8 billion. HFE already operates Newport Aquarium across the Ohio River from downtown Cincinatti – an attraction the company acquired in 2008.

"We’ve been actively seeking an opportunity to bring even more entertainment to the great state of Kentucky and that dream begins today," HFE CEO Andrew Wexler said in the release.

Kentucky Kingdom joins HFE's suite of 25 properties in eight states that entertain a combined 14 million guests annually. In addition to Silver Dollar City, HFE's Branson attractions comprise White Water, Talking Rocks Cavern, Dolly Parton's Stampede and Showboat Branson Belle. HFE also operates Dollywood in partnership with Parton in Pigeon Forge, Tennessee, according to its website.

With its new venture, HFE is planning to expand Kentucky Kingdom Theme Park LLC by adding themed events and festivals and partnering with state and local tourism officials to increase the attraction's reach, according to the release.

Founded in 1987, Kentucky Kingdom and Hurricane Bay sits on 65 acres and has more than 70 rides.