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May 1, 2007

Kennywood Entertainment To Acquire Story Land

Article written by:
Eric Gieszl, Editor

West Mifflin, PA -- Kennywood Entertainment will be one park larger this June when the company completes the purchase of New Hampshire's Story Land children's theme park.

Both Peter J. McAneny, president of Kennywood Entertainment, and Nancy L. Morrell, president of Morrell Corporation of Glen, NH, today announced a June 2007 closing is planned for the sale of the Story Land children's theme park and Morrell Corporation to Kennywood.

"Kennywood Entertainment is in the business of operating clean, beautiful, family parks. I do not think we could find a better fit for our organization than Story Land," said McAneny.

Nancy Morrell, president of Morrell Corporation informed Story Land employees of the sale agreement today and introduced them to Kennywood president Pete McAneny.

"From Story Land's standpoint, we view this more as a marriage into a larger family of theme parks, than a sale," said Nancy Morrell.

"We evaluated a number of options to ensure the long-term success of the park that my parents and my brother dedicated so much of their lives to, and believe Kennywood provides the best opportunity to preserve their theme park legacy," Nancy Morrell added.

"We're honored that Kennywood considers us a good fit."

Story Land is located in New Hampshire's White Mountains region on Route 16 in Glen.

Founded by Robert S. and Ruth T. Morrell in 1954, the park has operated continuously under two generations of Morrell family ownership, growing from a roadside attraction into one of New Hampshire's most popular summer destinations.

The park features rides, shows and numerous unique play areas, and live storybook characters.

Story Lane is currently in its 54th season.

Kennywood Entertainment Company presently owns and operates parks in Pittsburgh, Ligonier, Pennsylvania and Bristol, Connecticut.

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