BRW rich-lister Gerry Ryan and carsales.com.au founder Wal Pisciotta plan to inject millions into reviving one of Victoria's faded tourism gems, Gumbuya Park.

The two high-profile businessmen have joined forces to acquire the 166-hectare wildlife and amusement park near Bunyip State Park – about an hour's drive from Melbourne – for $4.65 million, with plans to add guest accommodation and new rides.