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Looping Group acquires Isla Mágica theme park

in Spain

Update : 09/01/13 - 13h49 Published by François Mayné the 8 January 2013, Corporate.

The French operator of regional amusement park Looping, property of the investment fund H.I.G. France, today announced it has reached an agreement with the Spanish bank CaixaBank concerning the acquisition of the theme park Isla Mágica in Seville.

After taking an equity stake of the company (to the tune of 82.8%) after merging with another banking institution, the CaixaBank had expressed its willingness to sell its shares in last November. At the same time, the bank had announced the sale of its stake in another Spanish theme park: PortAventura Resort in Salou.

The agreement, which amount was not disclosed, is expected to be completed next summer as it is conditioned to the fulfillment of legal and administrative obligations. With for commitment to ensure the continuity and development of the theme park, CaixaBank has already stated that it would assume a cost of €30 million (about $39 million) to clear the charges and financial risks associated with the operation.

Looping Group acquires Isla Mágica theme park in Spain

Located on the site of the World Fair Seville Expo'92, Isla Mágica offers a wide range of rides, attractions and entertainment around the theme of great discoveries. Despite regular investments and a average annual attendance of about 600,000 visitors (making it one of the most popular amusement parks in Spain), it has never achieved the objectives set at its beginning back in 1997. He has indeed recorded losses frequently, eg €3.2 million in 2011.

"Our goal is to bring to Isla Mágica our resources and our expertise to accelerate its development," said Laurent Bruloy, Chairman of Looping. "Our strategy includes an ambitious investment in new rides in order to enrich the offer and attract a wider clientele."

"Isla Mágica is a major theme park, by both its reputation and the quality of its rides and its development potential. This new acquisition is fully in line with our strategy to become the leading European regional amusement park operator. It also allows the Looping group to initiate a new phase of development to the south of Europe." added Cédric Lépée, Director at H.I.G. France.

Established in 2011 following the acquisition of seven parks from Compagnie des Alpes, including Parc Bagatelle (France), Avonturenpark Hellendoorn (Netherlands), Pleasurewood Hills (United Kingdom) and Aquaparc du Bouveret (Swiss ), the Looping group now operates eight sites in Europe since the purchase of the small amusement park Cobac Parc (France) last year.

Isla Mágica - Financial Information - - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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Europa-Park
(10 articles found)

Europa-Park chooses popular French IP to create an indoor themed area including MACK Rides coaster read more

This is a first in the history of Europa-Park. The German theme park, owned by the Mack family since 1975, has chosen to work with an intellectual...

NEW | Europa-Park - Published on June 11, 2013

Europa-Park: A family success story that's all about passion! read more

“Managing a theme park means writing a story, respecting a tradition and constantly questioning oneself, looking for new ideas and ways to i...

FEATURE | Europa-Park - Published on March 15, 2013

Themed Entertainment Association to hold its 10th TEA Summit and Thea Awards Gala April 4-6 read more

The Themed Entertainment Association (TEA), an international organization that represents the interests of more than 7,500 members working in...

EVENT | Europa-Park - Published on March 6, 2013

New attendance record for Europa-Park in 2012 read more

The German theme park Europa-Park has surpassed in 2012 the 4.5 million visitors for the first time, confirming its position as the first seasonal park in the world. This outcome is therefore highly satisfactory for the Mack...

CORPORATE | Europa-Park - Published on January 9, 2013

Europa-Park purchases a hundred-year old carousel read more

The German theme park Europa-Park has just purchased a carousel-lounge of 1909 from Ecomusée d'Alsace, a museum located in Ungersheim in North-East of France. The latter had declared its intention to separate from this carousel-lounge ...

NEW | Europa-Park - Published on April 29, 2012

WODAN Timburcoaster - Interview with Clair Hain Jr. President of Great Coasters International read more

During our coverage of the WODAN Timburcoaster media event at Europa-Park (Rust, Germany), we had the opportunity to meet Clair Hain Jr, President...

FEATURE | Europa-Park - Published on April 19, 2012

Europa-Park opens WODAN Timburcoaster - Interview with Roland Mack read more

Nearly 400 members of the press and special guests - including the racing driver Ralf Schumacher and Miss Germany 2012 - were invited last Wednesday...

NEW | Europa-Park - Published on April 2, 2012

Europa Park welcomed more than 4 million visitors in 2011 and prepares 2012 read more

Europa-Park stated that its 37th season has been once again a great success with an attendance exceeding well over four million visitors in...

NEW | Europa-Park - Published on January 11, 2012

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Hydro (Oakwood Theme Park) Gyrotour (Futuroscope) Blue Fire (Europa-Park) Sledge Hammer (Bobbejaanland) Stunt Fall (Parque Warner Madrid) Toy Story Mission Parachute (Walt Disney Studios) Troy (Toverland) Star Flyers (Plopsaland) Uppswinget (Liseberg) Lynet (Farup Sommerland) Grande Roue (Walibi Belgium) Cobra (Paultons Family Theme Park) G-force (Walibi Holland) Stealth (Thorpe Park) El Volador (Bellewaerde Park) Katun (Mirabilandia) Hurakan Condor (Port Aventura)