Santa Monica Amusements, which operates the Pacific Park amusement park on Santa Monica Pier in Los Angeles, California, US, has announced its sale to SC Holdings.
The new owner is an investment firm with experience in the entertainment and hospitality sectors.
As part of the sale, SC Holdings will make US$10m worth of investment over the next five years into the park’s food and entertainment programme.
The park, which welcomes 10 million visitors a year, is the only admission-free amusement park in Los Angeles.
Pacific Park’s current management team will continue to run day-to-day operations, led by its vice president and general manager Jeff Klocke.
The former CEO of Tivoli Gardens in Copenhagen, Denmark, Lars Liebst, will serve on the park’s advisory board, alongside former Shake Shack CEO David Swinghamer.
“Having SC as owners and investors in Pacific Park is a milestone moment,” said Klocke.
“The pier is a treasured part of Santa Monica and a place where both tourists and Angelenos come for fun and relaxation. SC’s investment and resources will help us expand what makes Pacific Park great today and write its next exciting chapter.”
