By Olivia Oran
Oct 1 (Reuters) - The world famous Harlem Globetrottersexhibition basketball team has been sold to theme park operatorHerschend Family Entertainment, the company announced onTuesday.
Norcross, Georgia-based Herschend, which operates 26 themeparks and aquariums across the nation, including most notablyDolly Parton's Dollywood theme parks, acquired the team fromprivate equity firm Shamrock Capital Advisors.
Reuters exclusively reported in June that the Globetrotterswere up for sale and could fetch between $50 million and $100million in a deal.
The terms of the deal were not disclosed. Piper Jaffrayadvised the Globetrotters on the sale process.
Founded in 1926, the Globetrotters have played more than25,000 games around the world, with past legends including WiltChamberlain and Meadowlark Lemon.
Shamrock, initially founded as the family investment companyof Roy Disney, had owned 80 percent of the Globetrotters.
- Private Equity & Hedge Funds
- Harlem Globetrotters
- Herschend Family Entertainment
- theme parks