Dollywood and Silver Dollar City owner Herschend Family Entertainment is expanding with another acquisition, this time adding Idaho’s Silverwood Theme Park to the chain.
In a Wednesday press release, Herschend said it has “signed an exclusive term sheet” to acquire Silverwood from the Norton family which founded the Athol, Idaho park in 1988.
Paul Norton, Silverwood’s chief operating officer, said in a statement: “When the time came to pass the torch, Herschend was the only choice. They share our values, our long-term approach, and our belief that parks like this are built by people with heart.”
Herschend CEO Andrew Wexler said in a statement, “We are honored that the Norton family has trusted us to carry their vision forward and excited to welcome the Silverwood hosts and guests to Herschend.”
The press release said the two sides “are working towards finalizing the transaction.” No financial terms were mentioned.
Before 2021, Herschend’s theme park operations were limited to just three parks: Silver Dollar City, Dollywood, and Wild Adventures in Valdosta, Georgia. Expansion began with the 2021 purchase of Kentucky Kingdom in Louisville and then greatly accelerated earlier this year when Herschend absorbed Palace Entertainment, the U.S. subsidiary of Spain-based Parques Reunidos. (It did quickly shed the California properties included in the Palace acquisition, including Castle Park in Riverside.)
With the addition of Silverwood, Herschend will own 11 theme parks in nine different states.