Six Flags and Cedar Fair to Finalize $8 Billion Merger

Six Flags and Cedar Fair have announced the completion of their merger, set to finalize on July 1. This merger, which has been months in the making following a definitive agreement, represents one of the largest transactions in the theme park sector in decades, valuing the combined entity at $8 billion.

The newly formed company will operate under the name Six Flags Entertainment Corporation and will be headquartered in Charlotte, North Carolina. This relocation signifies the departure of Six Flags’ headquarters from Arlington, North Texas.

Leadership for the merged entity has been confirmed, with Richard Zimmerman, current president and CEO of Cedar Fair, taking the helm as president and CEO of Six Flags Entertainment Corporation. Selim Bassoul, the current president and CEO of Six Flags, will transition to the role of executive chairman of the Board of Directors.

Related: Six Flags and Cedar Fair Merger Set to Close July 1, Creating Theme Park Giant

Zimmerman expressed enthusiasm about the merger, highlighting the strength and experience of the leadership team. “We are fortunate to have a proven team of leaders who bring decades of park operating experience and significant expertise in integrating businesses and achieving synergy targets for the combined company,” Zimmerman stated. “Their insights and complementary skill sets will be instrumental as we combine two of North America’s iconic amusement park companies and forge a new future together.”

This merger brings together two storied brands in the amusement park industry, with Cedar Fair owning notable properties like Schlitterbahn.

Source: K Sat