Herschend Family Entertainment will take over day-to-day operations of the 120-year-old Elitch Gardens theme park under a deal announced Tuesday.

The privately held company, based in Norcross, Ga., owns 26 theme parks, aquariums, hotels and campgrounds in 10 states, including Dollywood and Silver Dollar City.

Elitch Gardens' owner, the Orlando, Fla.-based CNL Lifestyle Properties, terminated its contract with former management company Parc Management in October, saying that Parc "defaulted on its leases and loan obligations to us" — an assertion Parc chief executive Randy Drew has denied.