Kings Island owner Cedar Fair announces merger with Six Flags

SANDUSKY — Two major amusement parks have announced a merger Thursday morning.

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Cedar Fair, the parent company of Cedar Point and Kings Island, says it will merge with Six Flags to create an expansive amusement park operator with operations spread across 17 U.S. States and three countries, the company announced in a news release Thursday.

The combined company will boast 27 amusement parks, 15 waterparks, and nine resort properties in the United States, Canada, and Mexico, according to the Associated Press.

“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, in a news release. “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.”

It will be valued at roughly $8 billion, based on both companies’ debt and equity values as of October 31, according to Cedar Fair.

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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 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. 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.”

The merger is expected to close in the first half of 2024, Cedar Fair says.

The business will be headquartered in Charlotte, North Carolina, and will keep significant finance and administrative operations in Sandusky, where Cedar Fair is based.

We will continue to provide updates on this developing story.

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