Photo: Amanda Hertel
The Globetrotters entertain thousands of fans on Sunday at the Arena at Gwinnett Center.
NORCROSS — A popular, family-friendly traveling basketball team is now owned by Norcross-based Herschend Family Entertainment Corporation, the company announced on Tuesday.
HFE acquired the Harlem Globetrotters from Shamrock Capital Advisors, and the Globetrotters are part of a group of tourist attractions in the company’s portfolio, including Stone Mountain Park, Dollywood and two properties in Branson, Mo. Overall, HFE owns 26 properties across the country including theme parks, aquariums, hospitality businesses and tours.
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.
The Globetrotters were founded in 1926 as the Savoy Big Five, and have played more than 25,000 games on six continents and 122 countries and territories. They visited the Arena at the Gwinnett Center in March.
“The team is coming off its best touring year ever, and this acquisition helps HFE diversify into a new but complementary business,” said Joel Manby, HFE’s president and CEO, in a press release.
Shamrock Capital Advisors, a Los Angeles-based private equity firm, owned the Globetrotters the last eight years.
Reuters contributed to this report.