WISCONSIN DELLS, Wis. (CBS 58) -- Herschend has reached an agreement to acquire all of Palace Entertainment’s U.S.-based properties from Parques Reunidos, including Noah’s Ark waterpark in Wisconsin Dells.

The acquisition, announced Tuesday, March 18, is part of Herschend’s expansion in family entertainment and hospitality, according to a Tuesday press release.

Noah’s Ark, billed as America’s largest water park, features waterslides, two wave pools, multiple play areas and a 4D movie theater. The park has received the Top Award for Aquatic Safety annually since 1995, according to Parques Reunidos.

Herschend officials stated that no immediate operational changes are planned, and efforts will focus on integrating the properties into its "people-first culture" while delivering continuity in the overall guest experience during the transition.