Two of North America’s premier amusement park chains, Six Flags Entertainment (NYSE:SIX) and Cedar Fair intend to merger their combined portfolios of 42 amusement and water parks across the US, Canada and Mexico.
Six Flags is the largest water park operator in North America, while Cedar Fairs owns 11 amusement parks and four outdoor water parks across the continent.
The combined company will have entertainment partnerships and a portfolio of classic theme park IPs such as Looney Tunes, DC Comics and PEANUTS.
“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 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.”
Selim Bassoul, president and chief executive of Six Flags, said that the combination “will redefine our guests’ amusement park experience as we combine the best of both companies”.
“Six Flags and Cedar Fair share a strong cultural alignment, operating philosophy, and steadfast commitment to providing consumers with thrilling experiences,” he stated.
Seen as a strategic move to fortify the businesses against a decline in discretionary spending, the merger is expected to close in the first half of 2024, following Six Flags shareholder approval.
Upon closing of the transaction, the combined company will operate under the name Six Flags and trade under the ticker symbol FUN on the New York Stock Exchange.