Five Star Parks & Attractions Acquires Craig's Cruisers Venues in Michigan
GRAND RAPIDS, Mich. and HOLLAND, Mich. and MUSKEGON, Mich., Nov. 2, 2022 /PRNewswire/ -- Five Star Parks & Attractions has completed the acquisition of the Craig's Cruisers locations in Grand Rapids, Holland and Muskegon, Michigan. Five Star now operates 19 family entertainment centers (FEC's)* in nine states.
Five Star and its investment partner, Fruition Partners, LLC, have sought out FEC's that are already experiencing success within the industry but that have a desire to grow or improve and can, therefore, benefit from the expertise and financial backing offered by Five Star and its leadership team.
Craig's Cruisers were among the parks that attracted Five Star's attention because the family-run business, which was established in 1979, has a reputation for building and operating some of the best FEC's in the country. From their perspective, the team at Craig's Cruisers was intrigued by Five Star's ability to provide the people, resources, and systems to make a brand even better … at an enviable pace.
"Five Star brings a whole team of experienced professionals from the industry," said Jeff Gebhart, CEO of Craig's Cruisers. "They have an appetite for growth, and we're very excited to see what's next for Craig's Cruisers."
"We're big fans of the Craig's Cruisers parks and have always been impressed by the quality of their entertainment offering, which we consider best in class," said John Dunlap, CEO of Five Star Parks & Attractions. "They have a tremendous leadership team with decades of experience in the family entertainment industry, and their focus on clean, safe fun is in perfect alignment with the mission of our company. We look forward to building upon the 40-year legacy that Craig's Cruisers has established in west Michigan, and we're excited to evolve the parks in ways that will benefit their guests, employees, and communities into the future."
Other Five Star Parks locations include the three Track Family Fun Parks, Xtreme Racing, and Adventure Zipline in Branson, Missouri; SpeedZone, Lazerport and Xtreme Racing in Pigeon Forge, Tennessee; three Malibu Jack's indoor theme parks in Kentucky; and five locations of Celebration Station, in the prime suburban locations of Clearwater, Florida; Baton Rouge, Louisiana; Greensboro, North Carolina; Oklahoma City, Oklahoma; and Mesquite, Texas.
Family Entertainment Centers are an important part of the global amusement industry. They bring families together by offering an array of activities, which can include arcades and games, batting cages, bowling alleys, bumper boats and cars, go-karts, laser tag, miniature golf, rides, roller rinks, VR experiences, ziplines, and more. Often FEC's include dining elements, from ice cream stands and snack bars to full-service restaurants and food trucks.
Five Star Parks & Attractions is a platform created to partner with and invest in leading family entertainment centers (FEC's), instituting positive changes aimed at creating superior entertainment experiences for families. Properties partnering with Five Star benefit from the passion and expertise of leaders who have spent their careers in the amusement and hospitality industries, and from the financial backing necessary to create improved guest experiences and long-term success. As part of its ongoing growth strategy, Five Star is interested in hearing from existing FEC's that may be interested in joining the team and learning about the group's future plans.
SOURCE Five Star Parks & Attractions
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