Two powerhouses of the leisure industry have officially merged together with Six Flags and Cedar Fair uniting forces.
The merger of theme park operators Cedar Fair and Six Flags has been long awaited in the industry but now has come to fruition.
Six Flags described the landmark partnership as “the largest and most diverse amusement park operator in North America.”
The new union will operate under the Six Flags name of Six Flags Entertainment Corporation and trade under the aptly named ticker symbol FUN.
The merger is a game changer for the industry, with Six Flags having an impressive portfolio of 42 parks across the United States, Canada and Mexico.
“Today marks a significant milestone for our company, shareholders, guests and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences,” said Richard Zimmerman, president and chief executive officer of Six Flags Entertainment Corporation.
“Our merger establishes a new Six Flags Entertainment Corporation with 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.
“The combination also 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.”
Meanwhile, Selim Bassoul, executive chairman of the board of directors of Six Flags Entertainment Corporation, 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 capitalise on the tremendous growth opportunities and operational efficiencies of our more extensive entertainment portfolio.”
A press statement confirmed that each park in the combined company’s portfolio will retain their legacy branding with no changes to park names currently being planned or contemplated.
Image: Six Flags
