Herschend Family Entertainment Corporation (HFE) today confirmed the company has joined the management and ownership of Adventure Aquarium in Camden, New Jersey, across the river from downtown Philadelphia. Joel Manby, chief executive officer, HFE, made the announcement.
“For nearly half a century, HFE has successfully operated theme parks and attractions throughout the U.S. Given the broad appeal of animals, and our desire to create experiences that can be shared by the entire family, these aquariums are a nice fit for Herschend,” said Manby. “We will operate business as usual, with a focus on making the operating transition as smooth and transparent as possible for the Aquarium’s guests and employees.”
“HFE has a proven track record and we are confident they will continue to expand upon the success of the aquariums, which we are proud to say have both enjoyed yearly attendance growth and consistent profitability since opening,” said Yaromir Steiner, CEO of Steiner + Associates, former operating partner for both aquariums and continued minority investor in Adventure Aquarium.
Dudley Taft, one of the founding partners of the Newport Aquarium, will continue as a minority investor there, while Steiner + Associates will continue as a minority investor in Adventure Aquarium.
Genesis Capital, LLC served as the financial adviser and Husch & Eppenberger, LLC served as legal advisor to Herschend Family Entertainment Corporation.
About Adventure Aquarium
Adventure Aquarium (www.adventureaquarium.com) on the Camden Waterfront features nearly 200,000 square feet of sea life and wildlife. In addition to hands-on, up close and interactive encounters with sea creatures like sharks, sea turtles and seals, the aquarium features a diverse array of animals including hippopotamuses, porcupines and over 20 species of African birds in a free-flight aviary. Adventure Aquarium opened May 2005, and is located on the Delaware River.