Great American Family Parks Closes on Acquisition of First Major Theme Park - Wild Animal Park
Thursday June 16, 8:00 am ET
- Adds $1.9 Million to Annual Revenues With Strong Profits -
BOISE, Idaho, June 16 /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC: GFAM - News) is pleased to announce the Company has acquired the assets of Ron Snider & Associates, Inc., d.b.a. Pine Mountain Wild Animal Park, and other assets to create Wild Animal Safari, Inc., marking the Company's first major theme park acquisition. Management expects the acquisition to be immediately accretive to earnings. Pine Mountain Wild Animal Park reported annual revenues of $1,870,825 and earnings of $754,020 for the year ended December 31, 2004. The entire transaction was covered by a consolidated purchase price of $4.75 million.
Dr. Larry Eastland, President of Great American Family Parks, stated, "We are tremendously excited to close our first park acquisition. GFAM acquired this park because it meets our strict criteria of selecting small to medium- sized parks that bring experienced management, solid revenues and strong profits to our Company. With nearly $2 million in annual revenues, EBITDA of $900,000 and bottom-line profits, the Wild Animal Park has displayed an excellent growth pattern over its 14th year of operations."
Jim Meikle, the new President of Wild Animal Safari, Inc., stated, "Wild Animal Safari is one of the few animal parks still in existence in the U.S. that offers families unique, interactive experiences with exotic animals in their natural environment. We are proud to now be a part of Great American Family Parks. We are open for business throughout the year and have historically been profitable each and every month of the year. Wild Animal Safari will give GFAM access to a very large market area, where we can now leverage significant opportunities for expansion to strengthen our thriving operations."
Dr. Eastland concluded, "GFAM is envisioned as a family-centric company with positive values and unique entertainment offerings. This acquisition represents a significant step in fulfilling that vision. Our management team has a high level experience and enthusiasm to create a park environment that will continue to attract an increasing number of visitors, while expanding profitability."
About Wild Animal Safari
Driven by their vision and love of animals, Ron Snider and his wife, Vivian, founded Pine Mountain Wild Animal Park over 14 years ago. The 200-acre park, located within the 500-acre parcel purchased by GFAM, contains more than 1,500 animals, providing one of world's most unique educational and entertaining experiences for its visitors. The park's jungle of spellbinding animals come from around the globe, including Africa, India, Australia, Europe, South America and the North Pole as well as from North America. Unlike a zoo, where animals are confined in small, man-made quarters, most of the animals at the park roam freely throughout its country-side, socializing, grazing and watering as they would in their original environments. Wild Animal Safari is located within an easily accessible one-hour drive time from
Atlanta and Macon, Georgia, as well as Montgomery and Birmingham, Alabama. For more information, visit animalsafari.com/.
About Great American Family Parks
Great American Family Parks is focused on buying and managing profitable regional theme parks and themed amusement attractions in the United States. By building a family of parks each with up to 1 million annual attendees, GFAM is in the process of developing a series of compatible, yet distinct entertainment and amusement products, including themed amusement parks, associated products, food and beverage, and multimedia offerings.
Regional theme parks are a relatively recession-proof growth market. The market for U.S. theme and amusement parks is expected to grow at a compound annual growth rate (CAGR) of 3.4% to $11.7 billion by 2007. Nationwide, regional park attendance is projected to increase at a CAGR of 1.8%, to bring collective attendance to 263.8 million by 2007. Overall revenues for America's regional theme parks is expected to total $8.31 billion within five years. For more information, visit www.weloveparks.com. Investors should visit www.otcfn.com/gfam.
For more information, please contact Rick McCaffrey, Investor Relations, OTC Financial Network, 781-444-6100 x625, rick@otcfn.com. Also visit www.otcfn.com/gfam.
Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur.
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Thursday June 16, 8:00 am ET
- Adds $1.9 Million to Annual Revenues With Strong Profits -
BOISE, Idaho, June 16 /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC: GFAM - News) is pleased to announce the Company has acquired the assets of Ron Snider & Associates, Inc., d.b.a. Pine Mountain Wild Animal Park, and other assets to create Wild Animal Safari, Inc., marking the Company's first major theme park acquisition. Management expects the acquisition to be immediately accretive to earnings. Pine Mountain Wild Animal Park reported annual revenues of $1,870,825 and earnings of $754,020 for the year ended December 31, 2004. The entire transaction was covered by a consolidated purchase price of $4.75 million.
Dr. Larry Eastland, President of Great American Family Parks, stated, "We are tremendously excited to close our first park acquisition. GFAM acquired this park because it meets our strict criteria of selecting small to medium- sized parks that bring experienced management, solid revenues and strong profits to our Company. With nearly $2 million in annual revenues, EBITDA of $900,000 and bottom-line profits, the Wild Animal Park has displayed an excellent growth pattern over its 14th year of operations."
Jim Meikle, the new President of Wild Animal Safari, Inc., stated, "Wild Animal Safari is one of the few animal parks still in existence in the U.S. that offers families unique, interactive experiences with exotic animals in their natural environment. We are proud to now be a part of Great American Family Parks. We are open for business throughout the year and have historically been profitable each and every month of the year. Wild Animal Safari will give GFAM access to a very large market area, where we can now leverage significant opportunities for expansion to strengthen our thriving operations."
Dr. Eastland concluded, "GFAM is envisioned as a family-centric company with positive values and unique entertainment offerings. This acquisition represents a significant step in fulfilling that vision. Our management team has a high level experience and enthusiasm to create a park environment that will continue to attract an increasing number of visitors, while expanding profitability."
About Wild Animal Safari
Driven by their vision and love of animals, Ron Snider and his wife, Vivian, founded Pine Mountain Wild Animal Park over 14 years ago. The 200-acre park, located within the 500-acre parcel purchased by GFAM, contains more than 1,500 animals, providing one of world's most unique educational and entertaining experiences for its visitors. The park's jungle of spellbinding animals come from around the globe, including Africa, India, Australia, Europe, South America and the North Pole as well as from North America. Unlike a zoo, where animals are confined in small, man-made quarters, most of the animals at the park roam freely throughout its country-side, socializing, grazing and watering as they would in their original environments. Wild Animal Safari is located within an easily accessible one-hour drive time from
Atlanta and Macon, Georgia, as well as Montgomery and Birmingham, Alabama. For more information, visit animalsafari.com/.
About Great American Family Parks
Great American Family Parks is focused on buying and managing profitable regional theme parks and themed amusement attractions in the United States. By building a family of parks each with up to 1 million annual attendees, GFAM is in the process of developing a series of compatible, yet distinct entertainment and amusement products, including themed amusement parks, associated products, food and beverage, and multimedia offerings.
Regional theme parks are a relatively recession-proof growth market. The market for U.S. theme and amusement parks is expected to grow at a compound annual growth rate (CAGR) of 3.4% to $11.7 billion by 2007. Nationwide, regional park attendance is projected to increase at a CAGR of 1.8%, to bring collective attendance to 263.8 million by 2007. Overall revenues for America's regional theme parks is expected to total $8.31 billion within five years. For more information, visit www.weloveparks.com. Investors should visit www.otcfn.com/gfam.
For more information, please contact Rick McCaffrey, Investor Relations, OTC Financial Network, 781-444-6100 x625, rick@otcfn.com. Also visit www.otcfn.com/gfam.
Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur.
==================================================
You previously signed up for periodic updates regarding small and micro-cap companies.
Reply with remove in the subject to be deleted from our database
Soll keine Kaufempfehlung meinerseits sein, da ich keine OTC Aktien selbst mehr trade.
Habe heute die Nachricht unter meinen News entdeckt.
Fand allerdings wenig sonst über den WErt.
Außer einen Chart:
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