A majority of the Kennywood Entertainment's owners, who are the 76 descendants of the park's two founding families, approved the sale of the company to Parques Reunidos, pending approval of the FTC and Connecticut.
Read more from The Pittsburgh Tribune-Review.
The concern basically is not for Parques, its for the Candover investment company who just purchased Parques last summer. God only knows what will, or could happen. Its such a big gamble when family held parks change ownership, since the older parks are an institution to the communities.
Kennywood was known in our world as a conservative company, buying only established rides, steering away from prototypes, getting high capacity to reduce lines, and always always investing in your infrastructure. Their philosophy of Groups First hs worked, and propelled Kennywood ahead of its competitors in that field.
There are only a handful family parks that the actual family members create policy, direct entire divisions, and create a sound master plan, and Kennywood was one of them.
The 'First Team' ownership club should be commended for their excellent century of ownership. The next 100, well, may lead another direction.
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