Six Flags Entertainment and Cedar Fair announced a merger on Thursday
Six Flags and Cedar Fair are joining forces.
On Thursday, Six Flags Entertainment and Cedar Fair announced that they are merging to form a combined company worth approximately $8 billion.
“The combined company will operate a portfolio of 27 amusement parks, 15 water parks and 9 resort properties across 17 states in the U.S., Canada, and Mexico,” a press release from the two companies read.
The release added that the move was to create "a more robust operating model and a strong revenue and cash flow generation profile.”
The merger is expected to close in the first half of 2024, per the release. Once complete, the combined company will operate under the name Six Flags and will be headquartered in Charlotte, North Carolina.
While Six Flags has parks in Texas, Quebec and Mexico City, Cedar Fair operates locations such as Knott's Berry Farm in California and Ohio's Cedar Point, the company’s flagship — and oldest — park.
“Our merger with Six Flags will bring together two of North America’s iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance,” said Richard Zimmerman, president and CEO of Cedar Fair, per the release.
“I have great respect for the Six Flags team and look forward to joining forces as we embark on this next chapter together.”
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“The combination of Six Flags and Cedar Fair will redefine our guests’ amusement park experience as we combine the best of both companies,” added Selim Bassoul, president and CEO of Six Flags.
“Six Flags and Cedar Fair share a strong cultural alignment, operating philosophy, and steadfast commitment to providing consumers with thrilling experiences.”
Bassoul continued, “By combining our operational models and technology platforms, we expect to accelerate our transformation activities and unlock new potential for our parks. We are excited to unite the Cedar Fair and Six Flags teams to capitalize on the tremendous growth opportunities and operational efficiencies of our combined platform for the benefit of our guests, shareholders, employees, and other stakeholders.”
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