Cedar Fair & Six Flags To Merge, Creating Amusement Park Giant

deadline.com:

In what is described as a “merger of equals”, theme park operators Cedar Fair and Six Flags, are joining forces in an $8 billion deal, the companies announced Thursday.

The combined company, which will be operated under the Six Flags name, will be headquartered in North Carolina and will feature a combined 27 amusement parks, 15 water parks and nine resorts across 17 states, Canada and Mexico. “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 Chief Executive Officer of Cedar Fair. “Together, we will have an expanded and complementary portfolio of attractive assets and intellectual property to deliver engaging entertainment experiences for guests.

The combination also creates an enhanced financial profile with strong cash flow generation to accelerate investments in our parks to delight our guests, driving increased levels of demand and in-park value and spending.

I have great respect for the Six Flags team and look forward to joining forces as we embark on this next chapter together.” “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 Chief Executive Officer of Six Flags. “Six Flags and Cedar Fair share a strong cultural alignment, operating philosophy, and steadfast commitment to providing consumers with thrilling experiences.