Dentons has advised Parques Reunidos on Palace Entertainment’s acquisition of Adventureland
Global law firm Dentons has advised Spanish-headquartered Parques Reunidos, on the acquisition through its US subsidiary Palace Entertainment of Adventureland, a leisure park in Altoona, Iowa. Adventureland, which has been operating as a family-owned business since 1974, offers more than 100 rides, shows, and family attractions.
Parques Reunidos, a portfolio company of private equity house EQT, is an international entertainment and leisure group which operates more than 60 different assets – including theme parks, zoos, marine parks, water parks and lodging properties -in 14 countries around the world. Following the acquisition, Palace Entertainment plans to invest in the expansion of Adventureland, by adding eight new rides in 2022 and an additional two new attractions in 2023.
A cross-border Dentons team advised as lead counsel to the purchaser, performing legal due diligence and drafting transaction documents. The Dentons team consisted of partners Jason Stone and John Pietila in Des Moines, Iowa, and partner Jesus Duran (pictured) in Madrid. They worked closely with Cristina Carro Werner, chief Legal officer at Parques Reunidos, who led the deal on the client side.