Kennywood owners OK park sale

May 16, 2008 5:03:23 AM PDT
A spokeswoman for Kennywood Entertainment says the family-owned amusement park chain has approved its sale to a Spanish firm that manages dozens of amusement, animal and water parks in the United States and Europe. Kennywood's owners are 76 descendants of two men who bought the suburban Pittsburgh park in 1906, F.W. Henninger and Andrew McSwigan.

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.