A water park in Staffordshire has been sold in a multimillion-pound deal.
The attraction in Festival Park, Stoke-on-Trent, has been sold by entrepreneur Mo Chaudry to the European leisure giant, Looping Group, which operates 21 leisure parks across Europe, including West Midlands Safari Park and Drayton Manor Park.
The deal was finalised on July 31.
While the value of the deal has not been disclosed, Mr Chaudry’s family investment company now has a net worth of more than £170m in the wake of the sale.
Mr Chaudry, the chairman of M Investment Group, said: “Waterworld has been a huge part of my life and business journey and I am proud of everything we have achieved as a team.
“I am now handing over the baton to Looping, a world-class operator with the vision and expertise to take Waterworld even further, ensuring the resort has an exciting future.”
Mr Chaudry said the Looping Group had “made a clear commitment to investing in the park and supporting the local community”, claiming that staff jobs were secure and visitors could expect “even more exciting developments ahead”.
Waterworld has welcomed millions of visitors since opening in 1989.
