Drayton Manor, the family-run theme park in Tamworth, Staffordshire, has been sold following several months on the brink of administration.
The theme park, which opened in 1950 and is one of the oldest theme parks in Europe, has confirmed it has been sold in a multi-million-deal to Looping Group, the European leisure chain.
The deal with Looping Group has saved almost 600 jobs at the resort. Drayton Park’s founder William Bryan will be staying on as managing director as the park fights through a “challenging period.”
Drayton Manor was hit hard by Storm Dennis in February 2020, which forced the park to close, and then by the coronavirus pandemic.
The theme park and zoo attract more than 1 million visitors each year. It says it will continue to operate under the name of Drayton Manor Resort Ltd.
William Bryan shared his enthusiasm about the deal with Looping Group, commenting: “Like many businesses, we have faced challenges over recent months, but the sale to the Looping Group is an exciting and positive new chapter for Drayton Manor Park.
“For us, finding a buyer who would protect jobs was key, as was finding one who would continue to operate and develop the Drayton Manor Park our guests know and love,” he continued.
Laurent Bruloy, chief executive of the Looping Group, said: “We are thrilled and proud to welcome Drayton Manor Park and its talented team to our group.
“I would like to commend the Bryan family who has, over three generations, been developing the park and made it one of the most beautiful references of our industry in the UK. We are deeply respectful about all that has been achieved by the teams.”
