Six Flags Entertainment Corporation announced that it has merged with Cedar Fair Entertainment Company to create North America’s largest amusement park operator with 42 new parks across the United States, Canada and Mexico.
The merger, which closed Monday, values the company at an estimated $8 billion and “combines Cedar Fair’s reputation for delivering exceptional guest experiences with Six Flags’ innovative ride and attraction design, bringing together the strengths of both companies,” a Six Flags Entertainment Corp. statement said.
“Our increased financial flexibility will enable us to invest in new rides and attractions, food and beverage options and cutting-edge consumer technology,” the company added. “These investments are designed to increase attendance, increase per capita spend and improve profitability — ensuring every visit to our parks is more exciting and memorable than the last.”
Before the merger, Cedar Fair said it operated 11 regional amusement parks, four water parks and two sports venues, including roller coaster enthusiasts’ favorite Cedar Point in Sandusky, Ohio, Dorney Park in Pennsylvania, Kings Dominion in Virginia and Knott’s Berry Farm in California.
Six Flags Entertainment Corp. announced that Cedar Fair Inc. president and CEO Richard Zimmerman will assume his role at the new combined company and that Six Flags president and CEO Selim Basor will become executive chairman of the board of directors.
The company also said it would trade on the New York Stock Exchange under the ticker symbol FUN and would be headquartered in Charlotte, North Carolina, with “primary financial and administrative operations maintained in Sandusky, Ohio.”
The company added that the combined park portfolio of the two companies will “allow us to reach more guests than ever before with unique, immersive experiences that cater to every age group and entertainment preference.”
