Amusement Park Giants Cedar Fair and Six Flags Merge, Creating $8 Billion Company

In a groundbreaking move, amusement park giants Cedar Fair and Six Flags Entertainment Corporation have announced a “merger of equals” that will create a combined company valued at approximately $8 billion. This merger will solidify their position as one of the largest amusement park companies in North America, boasting a portfolio of 27 amusement parks, 15 water parks, and 9 resort properties across the United States, Canada, and Mexico.

Notable attractions included in this merger are the beloved Knott’s Berry Farm and Six Flags Magic Mountain in California. With shared entertainment partnerships and intellectual property rights for iconic brands like DC Comics and Looney Tunes, the newly formed company is set to deliver even more engaging experiences for guests.

This merger is expected to generate significant cost savings and synergies, with an estimated $120 million in savings within two years of closing the deal. Cedar Fair shareholders will own a majority stake of approximately 51.2%, while Six Flags shareholders will own around 48.8% of the combined company.

Richard Zimmerman, President and CEO of Cedar Fair, will lead the combined company, while Selim Bassoul, President and CEO of Six Flags, will assume the role of Executive Chairman of the board of directors. Both leaders expressed excitement about the merger and highlighted the shared commitment to providing thrilling experiences for consumers.

The merger is anticipated to be finalized in the first half of 2024, paving the way for an exciting new chapter in the amusement park industry. Guests can look forward to an expanded and diverse array of attractions and entertainment as these two iconic companies join forces.

https://stmdailynews.com/category/entertainment/amusement-and-theme-parks