PRIVATE EQUITY OWNED
Merlin Entertainments
Includes LEGOLAND, Madame Tussauds, SEA LIFE, The London Eye
theme parks & attractions · Poole, UK
- Acquirer
- Consortium (Kirkbi, Blackstone, CPPIB)
- Year Acquired
- 2019
LEGOLAND, Madame Tussauds, and the London Eye walk into a PE deal.
What They Did
- Taken private in a $7.5 billion deal in 2019 by a consortium including Blackstone
- Operates around 100 attractions across more than 20 countries, including 11 LEGOLAND Resorts
- Sold its 29 LEGO Discovery Centres back to the LEGO Group for $270 million, completed February 2026
- The second-largest theme park operator in the world, now controlled by financial investors
Since the Acquisition
- Implemented surge pricing across its top attractions by end of 2024 — ticket prices fluctuate based on weather, day of week, and season
- A 2020 class action accused Merlin's US attractions of refusing to refund tickets, memberships, and vacation packages after pandemic closures, despite a 'peace of mind' policy promising flexibility
Sources
- Legoland builds in 'surge pricing' for visitors — Euronews(2024-03-25)
- Merlin taken private in $7.5B deal — Financier Worldwide(2019-09-05)
- Legoland California, Madame Tussauds Operators Facing Lawsuit Over Refund Refusals Amid Pandemic — ClassAction.org(2020-06-10)
- The LEGO Group completes acquisition of LEGO Discovery Centres and LEGOLAND Discovery Centres from Merlin Entertainments — LEGO(2026-02-27)
- Merlin Entertainments Reports 2025 Performance Amidst Structural Transformation — themepark.network(2026-03-27)
- LEGO acquires Merlin's Discovery Centres for $270 million — CEO North America(2025-09-29)