Six Flags and Cedar Fair Entertainment Co. announced Monday that they have completed their merger, creating the largest amusement park operator in North America.
The company will operate under the Six Flags name and will have 42 parks, including Six Flags Magic Mountain and Hurricane Harbor in Valencia, according to a news release.
“This extensive network allows us to reach more guests than ever before, offering unique and immersive experiences that cater to all ages and entertainment preferences,” the release stated.
The merger will combine Cedar Fair’s reputation for delivering exceptional guest experiences with Six Flags’ innovative ride and attraction designs, according to the release. It added that the merger allows for greater financial flexibility that will enable the company to invest in new rides, attractions, food and beverage options, as well as state-of-the-art consumer technologies.
“These investments are designed to grow attendance, increase per capita spending and enhance profitability, ensuring that each visit to our parks is more exciting and memorable than the last,” the release stated.
Executives from both Six Flags and Cedar Point will lead the combined company. Richard Zimmerman, president and CEO of Cedar Fair, will serve the same roles, while Selim Bassoul, president and CEO of Six Flags, will serve as executive chairman of the board of directors.
The company’s corporate headquarters are located in Charlotte, North Carolina. Other financial and administrative operations are maintained in Sandusky, Ohio.
The release stated that the company has an anticipated pro-forma enterprise value of approximately $8 billion.
“The new Six Flags is well positioned for future growth. We are committed to maximizing shareholder returns through strategic capital allocation and achieving targeted net leverage ratios,” the release stated. “As we embark on this exciting new chapter, we invite you to join us at our parks to experience the magic and thrill of the new Six Flags Entertainment Co. Whether you are a longtime fan or a first-time visitor, we promise to deliver unforgettable moments filled with laughter, adventure and joy.”
