Great Wolf Resorts Acquired by Apollo

An affiliate of the global investment manager Apollo Global Management and the indoor waterpark operator Great Wolf Resorts announced that they have entered into a definitive merger agreement. This agreement defines the acquisition of the North American waterpark chain for about 703 million dollars including the assumption of the company’s outstanding debt. Apollo announced to purchase all outstanding shares of Great Wolf common stock for five dollars per share. The transaction was unanimously recommended by an independent strategic review committee of the board of directors of Great Wolf and unanimously approved by this board, too. Great Wolf operates eleven properties throughout North America which offer a broad range of leisure activities in their indoor waterparks rounded off by themed restaurants and overnight accommodation. (eap)