Fårup Sommerland is implementing a generational and ownership change

By | November 18, 2016

f_c3_a5rup_2ejpgDENMARK – A generational and ownership change has been implemented in Fårup Sommerland, as Søren Kragelund is selling his shares in the company and will resign as CEO and board member.

“Of course it is with a certain sadness that we are announcing that Søren Kragelund has decided, as he reaches 68, to sell his owner’s share in the company and is stepping down as director and board member of Fårup Sommerland. Over half a lifetime, Søren has created a successful and eminent lighthouse in a North Jutland and the Danish context. His vision, innovation and hard work is the reason why Fårup Sommerland is, today, an extremely well-run company and an internationally renowned amusement park. “Everyone involved in Fårup Sommerland owes Søren Kragelund a big thank you. This includes all of North Jutland tourism and the Region, for putting Fårup Sommerland on the world map”, says Chairman Ole Mølgaard.
Fårup Sommerland was established by Søren Kragelunds father, Anders Kragelund, and Henrik Schancks mother, Kamma Schnack, in 1975. In 1996, the current owners and cousins, Søren Kragelund and Henrik Schnack, took joint ownership, with 50 percent each.

“Of course this is a big, but also very considered, decision I have made. I’ve enjoyed more than 40 fantastic years in Fårup, and my children are pursuing their own careers in London and Copenhagen. It is, therefore, a very good solution for myself and my family that the Schnack family has the opportunity to take over my owner’s share,” says Søren Kragelund.

With the acquisition of Søren Kraglund’s shares in the parent company, M. Kragelund Holdings, Henrik Schnack and his sons, Martin Norrbom Sam and Jacob Schnack, are now the sole owners of Fårup Sommerland.

“I am very pleased that we are able to maintain Fårup Sommerland as a family owned North Jutland business. It will ensure that the core values Fårup stands for will be retained. Over more than 40 years, Fårup achieved a fantastic position and some very good results, and we continue to see good opportunities for positive development, which was, of course, a premise for acquiring the entire shareholding. It is a very well-run company we are acquiring all the shares of, for which Søren must take a very large part of the credit,” says manager Henrik Schnack.

A process will soon be initiated to find a new, future CEO for Fårup Sommerland.

Company board member and former auditor, Tage Borregaard, has taken up the role of new interim director and, together with the experienced staff and the board, he will lead the company until a new CEO is hired.