Festival Fun Parks, LLC dba Palace Entertainment announced recently that it has completed the sale of 14 family entertainment centers and one waterpark to Apex Parks Group.
The 14 family entertainment centers sold include park locations of Boomers!, Malibu Grand Prix, Mountasia and SpeedZone. All four brands focus on family fun that is close to home.
The family entertainment centers that have been transitioned to the buying company, Apex Parks Group include: Boomers! Boca Raton, Fla., El Cajon, Calif., Fountain Valley, Calif., Fresno, Calif., Irvine, Calif., Livermore, Calif., Modesto, Calif., San Diego, Calif., Santa Maria, Calif. and Upland, Calif.; Malibu Grand Prix San Antonio, Texas; Mountasia, Houston, Texas; and SpeedZone, Dallas, Texas and Los Angeles, Calif.
Big Kahuna’s Water Park in Destin, Fla., also included in the sale, will be the sole waterpark for APEX.
“It is Palace’s plan to focus on gated parks in key markets. With the sale of these parks, we look to strengthen our geographical diversity and grow through the acquisition of more gated attractions in the future. We wish to thank our employees for their outstanding efforts over the years and we wish them well,” said Fernando Eiroa, Palace Entertainment’s president and CEO.
“We are thrilled to be associated with this collection of parks and the dedicated employee base. I am excited about the opportunity to invest in the locations and deliver on APEX’s commitment to providing a family-friendly experience and facilitating memories that our guests will treasure for years to come. We look forward to aggressively growing APEX, both organically and through acquisitions,” said Al Weber, CEO of Apex Parks Group (APEX).