Kennywood, Sandcastle and Idlewild & Soakzone could soon have new owner

Kennywood begins opening for 2019 summer season

WEST MIFFLIN, Pa. — Kennywood, Sandcastle and Idlewild & Soakzone could soon have a new owner.

A Swedish private equity firm is looking to take over the Spanish company Parques Reunidos, the company that owns Kennywood, according to the Pittsburgh Business Times.

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The Spanish theme park operator has owned the West Mifflin amusement park since 2007.  Now EQT, no relation to the Pittsburgh drilling and pipeline company, is leading the charge to take over Parques Reunidos.

The total offer is worth over $700 million.  EQT and two other companies currently own 44% of the company.  The bid is for the remaining shares, the Pittsburgh Business Times reported.

Parques Renundos operates Kennywood Park and 61 other parks in 14 countries.

The amusement park opens May 4 for its 121st season.  It'll be open daily starting May 23.