Santa Monica Pier’s Pacific Park Sold, Ferris Wheel And All

The company that runs Pacific Park on Santa Monica Pier today announced its sale to an investment firm that plans to put $10 million into the pier’s food and entertainment attractions and general operations.

Santa Monica Amusements LLC announced the sale of the famous attraction known for its colorful Ferris Wheel for an undisclosed sum to SC Holdings, which specializes in sports, entertainment and hospitality.

Led by managing partners Jason Stein and Daniel Haimovic, SC Holdings previously invested in LeBron James and Maverick Carter’s entertainment studio The SpringHill Company, the merger of Major League Pickleball and the Professional Pickleball Association and chef James Kent’s Saga Hospitality Group which is home to multiple Michelin star restaurants.

Pacific Park’s Vice President and General Manager Jeff Klocke said he and his management team will continue to lead the attraction’s day-to-day operations.

“Having SC as owners and investors in Pacific Park is a milestone moment,” Klocke said in a statement.

“The Pier is a treasured part of Santa Monica, and a place where both tourists and Angelenos come for fun and relaxation. SC’s investment and resources will help us expand what makes Pacific Park great today and write its next exciting chapter.”

The admission-free amusement park on Santa Monica Pier welcomes 10 million visitors annually, according to Santa Monica Amusements.

“We’re honored to support the Park’s growth through investments into its programs and operations,” said SC Partner Adrian Williams. “The Pier and Park are such iconic parts of Southern California’s coastline, and we want to make sure they stay a welcoming place where visitors and locals can come have fun and relax.”

City News Service contributed to this report.