Development History
Beginning in the early 1970s, the Busch Gardens theme park was developed by Anheuser-Busch (A-B) as a portion of the company's development investment in the Williamsburg area, which grew to include a brewery, the Kingsmill Resort, as well as residential and office properties.
The St. Louis-based brewer invested in the area following negotiations held between August Busch, II and Winthrop Rockefeller, a son of Colonial Williamsburg's initial chief mentor, John D. Rockefeller, Jr.. Winthrop Rockefeller had been serving as both governor of Arkansas and chairman of Colonial Williamsburg in the 1960s and 1970s. (Water Country USA, a local water park, was acquired by A-B in the 1990s, and added to the company's theme park activities, which include a number of SeaWorld properties in other states as well).
In the last part of the 20th and early into the 21st century, as a brewer, A-B found itself competing in an increasingly global market. In 2009, after initially resisting an unsolicited stock bid, A-B announced it had reached an agreement to be acquired by the even larger Belgium-based InBev. The newer owners announced plans to sell-off the portions of A-B activities which were not part of the core beverage business as it worked to reduce debt incurred to fund the acquisition.
The Blackstone Group was selected in late 2009 to acquire and operate the 10 former A-B theme parks, including two in the Williamsburg area. In July 2010, the adjacent Kingsmill Resort was scheduled to be acquired by Xanterra Parks and Resorts, a company owned by Denver-based Phillip Anschutz.
Read more about this topic: Busch Gardens Williamsburg
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