Merlin Entertainments, the European attractions operator, has acquired one of Italy’s largest theme parks, Gardaland, for a reported 500m euro (£340m, US$643m).
Gardaland draws more than three million visitors each year and brings Merlin’s portfolio up to 37 different attractions in 11 countries, including the Legoland and Sea Life brands.
Nick Varney, Merlin’s chief executive, said: “Gardaland is exactly what we have been looking for; a high quality business and brand with excellent staff and on-park attractions.
“It provides a natural extension to our existing customer base, attracting high volumes of young adults and teens as well as our traditional family market, which offers opportunities for joint promotion and development activities in the future.”
Merlin, which was bought by US private equity firm Blackstone for £102.5m in 2005, plans to introduce a Sea Life centre and Legoland Discovery centre to the park.
The current owners – Investindustrial and Aletti Merchant of Banco Popolare di Verona e Novara – will retain a minority stake in Gardaland. Details: www.merlinentertainments.biz
