Silver Dollar City parent company inks acquisition

The parent company of Silver Dollar City has penned a large-scale acquisition.

Peachtree Corners, Georgia-based Herschend Family Entertainment Corp., doing business as Herschend, announced in a news release last week that it would buy Palace Entertainment’s U.S. entertainment properties from international company Parques Reunidos. The financial terms of the deal were not disclosed.

Palace Entertainment has over 20 entertainment venues in 10 U.S. states, including Kennywood in Pennsylvania and Lake Compounce in Connecticut. Herschend's portfolio comprises more than two dozen entertainment brands, including Silver Dollar City in Branson, Dollywood in Tennessee and the Harlem Globetrotters basketball team.

With the addition of Palace Entertainment's U.S. assets, Herschend expects to serve 20 million guests annually, up from 15 million now. Herschend, which started in the 1950s, has more than 14,000 employees, which it calls hosts.

“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,” said Andrew Wexler, CEO of Herschend, in the release. "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."

Herschend officials say no immediate changes are planned to the daily operations of the Palace Entertainment assets, and the company plans to provide training and resources for incoming employees.

The release did not estimate a closing date, but it states that "the transaction is subject to customary closing conditions and is expected to close thereafter."

Companies involved in the facilitation of the deal include BDT & MSD Partners as Herschend’s financial and debt adviser and Goldman Sachs as its financing provider.

Separately, Silver Dollar City announced in a news release this morning that the Branson attraction is in the running for Best Theme Park through USA Today's 10Best Readers’ Choice Awards. Voting runs through April 21.

Silver Dollar City previously ranked No. 1 in 2024, 2023, 2020 and 2012, according to past reporting.