Madrid-based Parques Reunidos hopes to close on the sale by the end of the month.
Terms have not been disclosed and the deal must still be approved by the Federal Trade Commission and Connecticut regulators.
The sale includes Kennywood Park in West Mifflin, Idlewild & SoakZone in Ligonier and Sandcastle Waterpark in West Homestead. It also includes Lake Compounce Theme Park in Bristol, Conn., and Story Land in Glen, N.H.
