Wild Animal Safari Park is a wholly-owned subsidiary of Parks! America, Inc. Currently, we operate three Wild Animal Safari Parks, one in Pine Mountain, Georgia, one in Strafford, Missouri, and one in Bryan/College Station, Texas. The Georgia park was added in 2005, the Missouri park was added in 2008, and the Texas park was added in 2020.
Parks! America Inc. is a public company with a strong record of success and an experienced board of directors. Our 2019 fiscal year revenue exceeded $6.0 million. With the addition of our Texas park, we expect 2020 fiscal year revenues to exceed $7.0 million. The company’s stock ticker symbol is PRKA, and our SEC filings are available via the link outlined below.
Follow this link to access SEC filing information: PRKA SEC Filings
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Download Fiscal Reports:
- Parks! America, Inc. Quarterly Press Release Q2 Fiscal 2020
- Parks! America, Inc. Reports Q2 Fiscal 2020, 8-K
- Parks! America, Inc. Reports Q2 Fiscal 2020, 10-Q
- Parks! America, Inc. Reports Fiscal 2019 Results
Parks! America, Inc. Announces Acquisition of Aggieland Safari
PINE MOUNTAIN, Ga., April 30, 2020 /PRNewswire via COMTEX/ — PINE MOUNTAIN, Ga., April 30, 2020 /PRNewswire/ — Parks! America, Inc. (OTCPink: PRKA) (the “Company” or “Parks! America”), is pleased to announce that effective April 27, 2020, it has acquired substantially all the assets of Aggieland Safari, Inc. (“Aggieland”), primarily the Aggieland Safari Adventure Zoo and Safari Park (“Aggieland Safari”). Aggieland Safari is situated on 250 acres of a 450-acre property, located in Bryan, Texas, approximately 25 miles northeast of College Station and 120 miles northwest of downtown Houston. The acquisition was completed through Aggieland-Parks, Inc., a newly formed subsidiary of Parks! America, Inc.
The total purchase price for Aggieland was $7,125,000. The transaction was financed with a combination of new bank debt totaling $5,000,000, a seller note for $750,000 and cash totaling $1,375,000. The bank debt was financed by a promissory note from First Financial Bank, N.A. (the “Bank Note”), which is secured by substantially all the acquired assets, as well as guarantees from Parks! America, Inc. and its subsidiaries. The Bank Note bears interest at a rate of 5.0% per annum, has a maturity date of April 27, 2031, with interest only payable monthly through April 2021. The seller note represents a deferred payment of the purchase price, bears no interest, has a maturity date of June 30, 2021 and is secured by a second priority subordinated lien and security interest in the acquired mineral rights and the animal inventory.
“We are very pleased to announce the completion of the acquisition of Aggieland Safari,” commented Dale Van Voorhis, Chairman & CEO. “The deal took longer to close than initially anticipated, primarily due to the onset of the COVID-19 pandemic. In response to the near-term disruptions caused by this crisis, we revised the deal with the prior owner, as well as the bank financing. This allowed us to move forward with the Aggieland Safari acquisition, while at the same time preserving our ability to run our business during the uncertainties caused by the COVID-19 crisis. As noted when we announced the letter of intent, Aggieland Safari fits well in our existing park mix, providing geographic diversification. Also, Aggieland Safari is a new park that has recently completed a successful inaugural season. We believe that Aggieland Safari has a high-quality infrastructure as well as being home to over 750 animals, birds, and reptiles. We believe Parks! America will add value to the Aggieland Safari operation with our expertise in operating and marketing unique wild animal experiences. There will most certainly be added challenges with growing Aggieland Safari in the near-term due to the COVID-19 crisis. However, we believe this is a unique acquisition with tremendous long-term potential.”