Cedar Fair & Six Flags merge into one amusement park operator

Cedar Fair and Six Flags Entertainment Corporation have announced that they have entered into a definitive merger agreement to combine in a merger of equals transaction.

Building a leading theme park operator

The combined company, with a pro forma enterprise value of approximately $8 billion, will be a leading theme park operator in the highly competitive amusement space with an expanded and diversified footprint, a more robust operating model and a strong revenue and cash flow profile.

A huge portfolio

The combined company, which will be called Six Flags, will operate a portfolio of 27 theme parks, 15 water parks and nine resorts in 17 states in the US, Canada and Mexico. It will also have entertainment partnerships and a portfolio of intellectual property such as Looney Tunes, DC Comics and Peanuts to develop new attractions.

“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. “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.”

Source: www.investors.sixflags.com