The amusement park industry just announced a major deal that’s sure to be bigger than most rollercoaster drops.
Cedar Fair and Six Flags Entertainment agreed on a merger worth an estimated $8 billion on Thursday that will tie together Six Flags’s iconic parks with those under the Cedar Fair license, which include popular destinations such as Cedar Point in Ohio, Carowinds in the Carolinas (you can stand in both states at the same time on park grounds), and Kings Dominion in Doswell, Virginia.
“The combination of Six Flags and Cedar Fair will redefine our guests’ amusement park experience as we combine the best of both companies,” said Selim Bassoul, president and CEO of Six Flags, in a company statement.
The new deal will umbrella 27 amusement parks, 15 water parks, and nine individual resort proprieties in North America.
“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 CEO 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.
As both companies are publicly traded, it’s estimated that Cedar Fair shareholders will own roughly 51.2% of all combined company shares while Six Flags shareholders will own 48.8% of shares.
Each company will retain its Intellectual property for associated brands and partnerships, such as DC Comics and Looney Tunes.