World famous Harlem Globetrotters sold to theme park company

Tue Oct 1, 2013 1:18pm EDT

Oct 1 (Reuters) - The world famous Harlem Globetrotters exhibition basketball team has been sold to theme park operator Herschend Family Entertainment, the company announced on Tuesday.

Norcross, Georgia-based Herschend, which operates 26 theme parks and aquariums across the nation, including most notably Dolly Parton's Dollywood theme parks, acquired the team from private equity firm Shamrock Capital Advisors.

Reuters exclusively reported in June that the Globetrotters were up for sale and could fetch between $50 million and $100 million in a deal.

The terms of the deal were not disclosed. Piper Jaffray advised the Globetrotters on the sale process.

Founded in 1926, the Globetrotters have played more than 25,000 games around the world, with past legends including Wilt Chamberlain and Meadowlark Lemon.

Shamrock, initially founded as the family investment company of Roy Disney, had owned 80 percent of the Globetrotters.

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