Spain/Australia: Parques Reunidos Acquires Wet’n’Wild Sydney

Recently, Parques Reunidos has officially announced to take over Australia’s Wet’n’Wild Sydney water park from Village Roadshow Theme Parks. The acquisition amounts to a transaction value of some 25 million EUR (40 million AUD) and is expected to be completed in the next three months. By adding Wet’n’Wild Sydney to its portfolio of leisure operations, Parques Reunidos makes its first step for expansion in the southern hemisphere in order to strengthen its geographic diversification and to reduce revenue seasonality.

“This is a unique opportunity for Parques Reunidos to access the Australian market, grow in the region through further acquisitions and develop indoor entertainment centers. Our group’s global presence includes operations and projects across Europe, the US, the Middle East and now Australia,” said Fernando Eiroa, CEO of Parques Reunidos.

Covering a site of some 24 hectares, Wet’n’Wild Sydney offers a total of 40 water attractions and slides. Also, the park has potential for expansion projects such as the opening of a second gate or new theme areas in the future. (eap)