Haichang Ocean Park has announced a series of agreements with MBK Partners, a leading private equity fund in Asia, including strategic cooperation agreements, shareholder agreements, equity purchase and sale agreements, brand licensing agreements, and transition service agreements.
The two companies will now cooperate on the promotion of the Haichang brand, as well as IP development, biotechnology, new theme parks, stock upgrades and transformation. MBK Partners could also potentially participate in the expansion and development of Shanghai Haichang Ocean Park.
MBP Partners takes on four theme parks
Haichang Ocean Park’s theme parks in Wuhan, Chengdu, Tianjin and Qingdao will be transferred to MBK Partners with 100% equity, while the two entities will jointly operate the Zhengzhou theme park, which is currently under construction, with MBK partners holding a 66% stake in this project.
The parks will keep using the Haichang brand, and Haichang will provide MBK Partners with marketing and brand promotion, animal rental and conservation support. For the Zhengzhou project, Haichang will also support park construction supervision, human resources, property management and financial system management.
“As the leading theme park operator in China, Haichang Ocean Park has established a solid position in the industry,” says Han Lei, Managing Director of MBK Partners. “As the domestic tourism market continues to grow rapidly, we are honored to be selected to cooperate with Haichang. Ocean Park cooperates and pushes it into a new stage of development.
“We believe that this investment will be a win-win result for both parties and China’s tourism and theme park industry. We look forward to working closely with Haichang Ocean Park to promote the theme park industry Sustainable development and improve China’s ESG industry standards.”
Optimising Haichang’s financial and asset structure
Zhang Jianbin, CEO of Haichang Ocean Park, adds: “This cooperation between Haichang and MBK Partners is of great strategic significance and is a win-win result for both parties. This cooperation will further optimize Haichang’s financial and asset structure, and provide benefits for Haichang.
“The development of asset-light strategy provides more extensive cooperation resources. MBK Partners has strong financial capabilities and industrial resources and has experience in successfully investing in Universal Studios Osaka.
“We are confident in this cooperation. Haichang will play a role in this strategic cooperation The operational capabilities of the entire industry chain and the advantages of human resources accumulated over the years have provided tourists with better cultural tourism, leisure and vacation scenes and high-quality services.”
Elsewhere in China, Fantawild Holdings has announced that construction has begun on a series of Boonie Bears themed projects in the city of Yichun in Jiangxi Province, as well as revealing plans for a new Glorious Orient park in Guizhou.