Cedar Fair and Six Flags have completed their merger, forming the largest operator of amusement parks in North America.
The combined company now operates under the Six Flags name and looks after 42 parks and 9 resort properties in the US, Canada and Mexico.
Richard Zimmerman, president and CEO of Six Flags Entertainment Corporation, said the move “marks a significant milestone for our company, shareholders, guests and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences”.
The new Six Flags has “a highly diversified footprint and robust operating model, enhancing park offerings and performance though the complementary portfolio of attractive assets and intellectual property from each of Cedar Fair and the former Six Flags”, Zimmerman said.
Additionally, the merger “enhances the financial profile of the company 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”, he said.
The Six Flags corporate headquarters is located in Charlotte, North Carolina. Significant finance and administrative operations are being maintained in Sandusky, Ohio. The combined company is valued at around $8 billion including debt.
New Six Flags operates 42 parks
Selim Bassoul, executive chairman of the Six Flags board of directors, said: “We believe that by combining the best ideas and most successful entertainment practices of both Six Flags and Cedar Fair, the new Six Flags can deliver a superior level of joy and excitement that has yet to be experienced by regional park guests.
“We are excited to unite the Cedar Fair and Six Flags teams to capitalize on the tremendous growth opportunities and operational efficiencies of our more extensive entertainment portfolio.”
Parks in the combined company’s portfolio will keep their current branding and names. No changes are currently planned.
Images courtesy of Six Flags Entertainment Corporation
