Cedar Point is set to become part of a new ownership group.
Cedar Fair Entertainment Company, owner of the renowned Cedar Point Amusement Park in Sandusky, and Six Flags Entertainment Corporation today announced a merger, creating an instant powerhouse for the amusement park industry.
The new entity will leverage its expanded portfolio of 42 iconic parks and nine resort properties across 17 states, including Canada and Mexico.
“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,” says Richard Zimmerman, President and Chief Executive Officer of Cedar Fair.
“Six Flags and Cedar Fair share a strong cultural alignment, operating philosophy, and steadfast commitment to providing consumers with thrilling experiences,” says Selim Bassoul, President and Chief Executive Officer of Six Flags.
The key components and benefits of the merger, according to the news release, speaks on the overall quality of the amusement park experience, including diverse geographic footprints, strong financial stability and cash flow, as well as a more “robust” use of technology.
Following the completion of the merger, Zimmerman will serve as President and CEO of the combined company and Bassoul will serve as Executive Chairman for the company.
The merger is anticipated to be finalized in the initial half of 2024, pending the approval of Six Flags shareholders, regulatory clearances and the fulfillment of standard closing conditions. Notably, the approval of Cedar Fair unitholders is not required for the merger.
The official headquarters for the company will be in Charlotte, North Carolina, with some offices staying in Sandusky.
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