Madison-based Great Wolf Resorts Inc. has announced a definitive agreement to merge with an affiliate of Centerbridge Partners, LP, whereby Centerbridge, a private investment firm, will acquire Great Wolf. The purchase price is rumored to be about $1.35 billion, and the transaction is expected to be completed in the second quarter.
Currently, Great Wolf, a waterpark developer, is controlled by funds affiliated with Apollo Global Management LLC. Apollo purchased Great Wolf three years ago for $798 million.
