(WHTM) — Two companies recently announced that they have acquired several different amusement parks and attractions across Pennsylvania, including Lancaster County’s Dutch Wonderland.

Herschend and Parques Reunidos recently announced that they have signed a definitive agreement in which Herschend will acquire all of Palace Entertainment’s U.S. entertainment properties from Parques Reunidos.

The companies say this new agreement will support Herschend’s strategic expansion in family entertainment and hospitality while allowing Parques Reunidos to focus on its core European market.

“This year, we’re celebrating 75 years of bringing families closer together—and looking ahead to the next 75,” Andrew Wexler, CEO of Herschend said. “Today’s announcement marks a natural expansion and continuation of that vision. By growing wisely and staying true to our purpose, we are building a future where we can continue creating memories worth repeating for generations to come.”

Palace Entertainment previously owned over 20 historic entertainment venues. Some of the most notable places that will now be under new ownership include:

• Kennywood in Pittsburgh, Pa.
• Dutch Wonderland in Lancaster, Pa.
• Lake Compounce in Connecticut

“We look forward to building upon the strong foundation that Palace Entertainment has created and welcoming these properties and hosts into the Herschend family of brands,” Wexler added. “The teams at these parks have done an incredible job building beloved destinations in their communities, and we look forward to learning from them, growing together, and building on their success. This is an exciting opportunity for all of us to continue creating exceptional experiences for guests and meaningful opportunities for our teams.”

Moving forward, Herschend says it is committed to ensuring a smooth transition for employees, guests and communities. They add that no immediate changes are planned for daily operations at any of these properties.

According to Hershcend, the company was founded in 1950 as a small cave tour operation in the Ozark Mountains. Today, the company boasts more than 12,000 employees and serves 15 million annual guests across North America.

To read the full announcement, you can click here.

abc27 news will keep you updated as more information becomes available.