The Tussauds Group
Encyclopedia
The Tussauds Group is now part of Merlin Entertainments
, the world's second largest leisure group, second only to Disney. It is based in Poole, Dorset from where it manages a portfolio of brands and over 50 attractions including the famous Madame Tussauds
waxworks
, Legoland
Parks, Sealife Centres, Gardaland
in Italy, The Dungeons and the highly successful London Eye
, Alton Towers
, Thorpe Park
, and Chessington World of Adventures
in the UK.
was the main asset for the Tussauds group. This changed in 1978 when the business was acquired by S. Pearson and Son, now Pearson PLC
. Chessington Zoo
was already owned by Pearson and became a Tussauds attraction. In the same year Warwick Castle
was acquired. Rock Circus
opened in the London Pavilion in 1989. Several small acquisitions were made before 1990, when Alton Towers
was bought for £60 million.
In 1995, PortAventura
in Spain
opened, in which Tussauds had a 40% stake and managed the theme park. The stake was sold in 1998 to enable the purchase of Thorpe Park
, in South East England - management of PortAventura ceased with its sale.
In 1999, after being part of Pearson for twenty years, Charterhouse Development Capital acquired the group. In 2000, the London Eye
launched, owned by British Airways
but managed by Tussauds. In 2001 the group purchased Heide Park
in Germany
, and Rock Circus
was closed.
In 2005, the group was sold to Dubai International Capital
for £800 million ($1.5 billion). In 2006, the group purchased the London Eye outright.
In March 2007, the group was sold to the Blackstone Group
, in a £1Bn deal. DIC will hold 20% of the combined group. The company will be combined with the Merlin Entertainments
Group and is completing a harmonisation process. The Tussauds Group will proceed as Merlin Entertainments
Group. The group will add two new hotels to its portfolio in 2007 - Safari Lodge in Chessington, and Port Royal in Soltau, North Germany.
As of May 22, 2007 the merger with Merlin Entertainment has been completed and The Tussauds Group has ceased to exist as a separate entity.
Merlin Entertainments
Merlin Entertainments Group Ltd is a British operator of amusement parks and other attractions. It is the largest such company in Europe, and globally the second largest after Walt Disney Parks and Resorts....
, the world's second largest leisure group, second only to Disney. It is based in Poole, Dorset from where it manages a portfolio of brands and over 50 attractions including the famous Madame Tussauds
Madame Tussauds
Madame Tussauds is a wax museum in London with branches in a number of major cities. It was founded by wax sculptor Marie Tussaud and was formerly known as "Madame Tussaud's", but the apostrophe is no longer used...
waxworks
Wax museum
A wax museum or waxworks consists of a collection of wax sculptures representing famous people from history and contemporary personalities exhibited in lifelike poses....
, Legoland
Legoland
Legoland is a chain of Lego-themed theme parks. They are not fully owned by Lego Group itself; rather they are owned and operated by the British theme park company Merlin Entertainment.The chain currently consists of:* Legoland Billund...
Parks, Sealife Centres, Gardaland
Gardaland
Gardaland is the third-most-popular theme park in Europe and is between Peschiera and Lazise, at Lake Garda in Italy. Built on the eastern shore of Lake Garda at Castelnuovo del Garda, the park opened on July 19, 1975. It has expanded steadily in both size and attendance, topping 1 million visitors...
in Italy, The Dungeons and the highly successful London Eye
London Eye
The London Eye is a tall giant Ferris wheel situated on the banks of the River Thames, in London, England.It is the tallest Ferris wheel in Europe, and the most popular paid tourist attraction in the United Kingdom, visited by over 3.5 million people annually...
, Alton Towers
Alton Towers
Alton Towers is a theme park and resort located in Staffordshire, England. It attracts around 2.7 million visitors per year making it the most visited theme park in the United Kingdom. Alton Towers is also the 9th most visited theme park in Europe...
, Thorpe Park
Thorpe Park
Thorpe Park is a theme park located in Chertsey, Surrey, England, UK. It was built in 1979 on the site of a gravel pit which was partially flooded, the intention of creating a water based theme for the park. The park's first large roller coaster, Colossus, was added in 2002...
, and Chessington World of Adventures
Chessington World of Adventures
Chessington World of Adventures Resort is a theme park and zoo in South West London, England. It lies south of Central London. Historically opened as Chessington Zoo in 1931, a theme park was developed alongside it, opening in 1987...
in the UK.
History
Between 1900 and 1977, Madame TussaudsMadame Tussauds
Madame Tussauds is a wax museum in London with branches in a number of major cities. It was founded by wax sculptor Marie Tussaud and was formerly known as "Madame Tussaud's", but the apostrophe is no longer used...
was the main asset for the Tussauds group. This changed in 1978 when the business was acquired by S. Pearson and Son, now Pearson PLC
Pearson PLC
Pearson plc is a global media and education company headquartered in London, United Kingdom. It is both the largest education company and the largest book publisher in the world, with consumer imprints including Penguin, Dorling Kindersley and Ladybird...
. Chessington Zoo
Chessington World of Adventures
Chessington World of Adventures Resort is a theme park and zoo in South West London, England. It lies south of Central London. Historically opened as Chessington Zoo in 1931, a theme park was developed alongside it, opening in 1987...
was already owned by Pearson and became a Tussauds attraction. In the same year Warwick Castle
Warwick Castle
Warwick Castle is a medieval castle in Warwick, the county town of Warwickshire, England. It sits on a bend on the River Avon. The castle was built by William the Conqueror in 1068 within or adjacent to the Anglo-Saxon burh of Warwick. It was used as a fortification until the early 17th century,...
was acquired. Rock Circus
Rock Circus
Madame Tussaud's Rock Circus was a walkthrough exhibition celebrating the history of British rock & pop music.The attraction was operated by Tussaud's Group and took up the top four floors of the newly refurbished London Pavilion building at Piccadilly Circus, London.The exhibition was opened in...
opened in the London Pavilion in 1989. Several small acquisitions were made before 1990, when Alton Towers
Alton Towers
Alton Towers is a theme park and resort located in Staffordshire, England. It attracts around 2.7 million visitors per year making it the most visited theme park in the United Kingdom. Alton Towers is also the 9th most visited theme park in Europe...
was bought for £60 million.
In 1995, PortAventura
PortAventura
PortAventura is a theme park and a resort in Salou, Catalonia, Spain; on the Costa Daurada , approximately an hour drive south of Barcelona. It attracts around 3 million visitors per year making it the most visited theme park in Spain. PortAventura Park is also the 6th most visited theme park in...
in Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
opened, in which Tussauds had a 40% stake and managed the theme park. The stake was sold in 1998 to enable the purchase of Thorpe Park
Thorpe Park
Thorpe Park is a theme park located in Chertsey, Surrey, England, UK. It was built in 1979 on the site of a gravel pit which was partially flooded, the intention of creating a water based theme for the park. The park's first large roller coaster, Colossus, was added in 2002...
, in South East England - management of PortAventura ceased with its sale.
In 1999, after being part of Pearson for twenty years, Charterhouse Development Capital acquired the group. In 2000, the London Eye
London Eye
The London Eye is a tall giant Ferris wheel situated on the banks of the River Thames, in London, England.It is the tallest Ferris wheel in Europe, and the most popular paid tourist attraction in the United Kingdom, visited by over 3.5 million people annually...
launched, owned by British Airways
British Airways
British Airways is the flag carrier airline of the United Kingdom, based in Waterside, near its main hub at London Heathrow Airport. British Airways is the largest airline in the UK based on fleet size, international flights and international destinations...
but managed by Tussauds. In 2001 the group purchased Heide Park
Heide Park
The Heide Park Resort is a theme park in Soltau, Lower Saxony. With an overall area of over 850,000 m², it is one of the biggest German amusement parks and the biggest in Northern Germany....
in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, and Rock Circus
Rock Circus
Madame Tussaud's Rock Circus was a walkthrough exhibition celebrating the history of British rock & pop music.The attraction was operated by Tussaud's Group and took up the top four floors of the newly refurbished London Pavilion building at Piccadilly Circus, London.The exhibition was opened in...
was closed.
In 2005, the group was sold to Dubai International Capital
Dubai International Capital
Dubai International Capital is the international investment arm of Dubai Holding, a holding company and sovereign wealth fund of the government of Dubai and its ruling family and has been over-leveraged to the point whereby the company is not able to service its interest payments in a normal fashion...
for £800 million ($1.5 billion). In 2006, the group purchased the London Eye outright.
In March 2007, the group was sold to the Blackstone Group
Blackstone Group
The Blackstone Group L.P. is an American-based alternative asset management and financial services company that specializes in private equity, real estate, and credit and marketable alternative investment strategies, as well as financial advisory services, such as mergers and acquisitions ,...
, in a £1Bn deal. DIC will hold 20% of the combined group. The company will be combined with the Merlin Entertainments
Merlin Entertainments
Merlin Entertainments Group Ltd is a British operator of amusement parks and other attractions. It is the largest such company in Europe, and globally the second largest after Walt Disney Parks and Resorts....
Group and is completing a harmonisation process. The Tussauds Group will proceed as Merlin Entertainments
Merlin Entertainments
Merlin Entertainments Group Ltd is a British operator of amusement parks and other attractions. It is the largest such company in Europe, and globally the second largest after Walt Disney Parks and Resorts....
Group. The group will add two new hotels to its portfolio in 2007 - Safari Lodge in Chessington, and Port Royal in Soltau, North Germany.
As of May 22, 2007 the merger with Merlin Entertainment has been completed and The Tussauds Group has ceased to exist as a separate entity.