Adventureland has officially been acquired by the same billion-dollar company that owns theme parks like Dollywood and Silver Dollar City.

Herschend, a family-held themed attraction company, completed its purchase of 24 of Palace Entertainment’s U.S. properties, including Adventureland, on May 27. The sale was first announced in mid-March.

Just as Adventureland started as a family-owned theme park, Herschend had a similar start, said CEO Andrew Wexler.

“We’re here to bring families closer together by creating memories that are worth repeating,” Wexler said in an interview with the Register after the purchase closed. “So for us to do that, we have to intersect with families where they are.”

Will Adventureland’s new owner, Herschend, make any changes?

As of yet, there are no plans to change Adventureland with the acquisition. Herschend officials will work with Adventureland and other Palace companies for the next 90 days to make the transition, Wexler told the Register.

“We are going to spend the next 90 days really listening and learning, getting to know the properties and communities we are in,” Wexler said.

When asked if there would be any new perks for season pass holders to Adventureland, Wexler said Herschend intends to maintain the current benefits for patrons. Adventureland’s most expensive season ticket package includes access to other parks that were owned by Palace Entertainment.

What is Herschend Family Entertainment, the new operator of Adventureland?

Herschend started in 1950 with its first cave tour operation in the Ozark Mountains. It owns theme parks like Kentucky Kingdom, Dollywood, Silver Dollar City, aquariums and the Harlem Globetrotters.

The purchase price has not been disclosed, but shortly after the deal was announced Bloomberg reported that Herschend took out a $1.1 billion loan to refinance its existing debt and help pay for the purchase.

What is Herschend’s safety record at amusement parks?

Adventureland was sold to Palace Entertainment shortly after an accident on the Raging River killed an 11-year-old and injured several others in 2021. The ride had 17 safety violations at the time of the accident, according to state officials. Subsequent investigations raised questions about maintenance efforts under the park’s original ownership.

Herschend was fined more than $18,000 in 2020 by the Occupational Safety and Health Administration after a Dollywood employee was electrocuted on the job.

Herschend Family Entertainment, along with four other companies, were also sued after 17 passengers died on a boat attraction at Table Rock Lake in Missouri that capsized during a storm. The suit stated that the defendants were warned for two decades that the canopies on the boats were dangerous for passengers in the event of an emergency, according to the Kansas City Star.

Kate Kealey is a general assignment reporter for the Des Moines Register. Reach her at [email protected] or follow her on Twitter at @Kkealey17.