Earlier this week the Washington Post reported that Great Wolf Resorts have been acquired by Apollo Global Management. Great Wolf Resorts includes 11 themed hotels including the one in Grapevine, Texas.
According to the article:
Based on Great Wolf’s about 33.4 million diluted outstanding shares, the deal is worth about $167.1 million. Apollo valued the deal at $703 million including the assumption of debt.
Great Wolf Resorts are family friendly, themed resorts, with unique indoor water parks. The Great Wolf Lodge in Grapevine always looks busy. According to dailyfinance.com, Great Wolf Resorts are currently not profitable and are not expected to be until 2014.
Having worked for a company that was once acquired by Apollo all we can say is, “Good luck.”