Six Flags, Cedar Farm agree $8 billion theme park merger
A multi-billion dollar theme park merger is set to create a mammoth business with almost 50 locations in North America.
Dubbed a ‘merger of equals’ park operators Cedar Fair and Six Flags are combining in an all stock deal worth about $8 billion.
The new combined entity will be operated under the Six Flags name and based in North Carolina.
It will comprise a total of 27 amusement parks, 15 water parks and nine resorts in 17 states, Canada and Mexico.
“Our merger with Six Flags will bring together two of North America’s iconic companies to establish a highly diversified footprint and a more robust operating model,” said Richard Zimmerman, President of Cedar Fair.
“The combination also creates an enhanced financial profile with strong cash flow generation to accelerate investments in our parks.”
The deal is expected to close in the first half of 2024.
Zimmerman will be installed as president and CEO of the new business with Six Flags CEO Selim Bassoul appointed executive chairman.
The theme park merger will generate about $120 million in cost savings within two years, they say.
Cedar Fair operates well known parks such as Knotts Berry Farm, Carowinds and Kings Dominion.
The two companies welcomed a combined 21 million park visitors in the last quarter
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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