It’s now official.
On Monday, July 2, Pink Adventure Tours — known for its fleet of more than 150 pink Jeeps and tour buses — announced the entire company had been sold to the Georgia-based Herschend Enterprises, considered the nation’s largest family-owned themed attractions corporation.
“This couldn’t be any better for our organization or the communities we operate in,” Pink Adventures Tours President Tim Miller said. “Right now things will remain status quo. Nothing is changing — it will be business as usual.”
In addition to Sedona, where Pink Adventure Tours will remain headquartered, it also has tour hubs in Las Vegas and the Grand Canyon with 255 total employees.
“Herschend Enterprises is a top-shelf company,” Miller said. “Their mission is to bring families together in order to help create memories together, which is the same as Pink Jeep. They’re the perfect company for us to now be working for.”
The purchase of Pink Adventure Tours marks Herschend Enterprises’ entry into the adventure travel industry, a segment that is expected to see a 46 percent annual growth rate through 2020, according to a press release from both companies.
Herschend owns a portfolio of companies including part ownership in Dolly Parton’s Dollywood as well as theme parks, water parks, aquariums, restaurants, five hotels and a campground. And in a slight departure, it also owns the Harlem Globetrotters. In all, Herschend operates 23 properties in six states with more than 10,000 employees.
“Their values, structure and commitment to safety makes Pink Adventure Tours a great fit for our family of companies,” Herschend Enterprises CEO Andrew Wexler said in the release. “This acquisition expands our business into the rapidly growing market of adventure travel and gives Herschend another opportunity to intersect with families by offering unique experiences in some of the country’s most unique settings.”
In that same release, Pink Adventures owner Shawn Wendell said he could not have picked a better company to sell to.
“We built this company with integrity and a culture of trust, family and adventure,” he said. “Herschend is a wholesome company committed to their employees, customers and community while delivering fun, safe and entertaining activities to guests of all ages. It gives me great pleasure to know that, going forward, Pink Adventure Tours will be owned and operated by a family enterprise with similar values and goals.”
Miller said the Herschend family approached Wendell more than two years ago, but the company was not for sale. In fact, Miller said it was never officially on the market. But the two sides, who he said have similar businesses philosophies, decided now was the time to proceed with the sale.
“Pink Jeep is a brand known both nationally and internationally, so it was on their radar for a couple of years,” Miller said. “Both sides stayed in touch until the time was right.”
Ron Eland can be reached at 282-7795 ext. 122, or email reland@larsonnewspapers.com
