Cedar Fair, Six Flags Agree to Theme Park Company Merger

Image: Wonder Woman Flight of Courage at Six Flags Magic Mountain. (photo via Six Flags Media)
Image: Wonder Woman Flight of Courage at Six Flags Magic Mountain. (photo via Six Flags Media)
Donald Wood
by Donald Wood
Last updated: 8:30 AM ET, Thu November 2, 2023

Update: November 3, 2023 at 8:16 a.m. ET

Officials from Cedar Fair and Six Flags Entertainment Corporation announced they have entered into a definitive merger agreement to combine in a merger of equals transaction. The combined company, with a pro forma enterprise value of approximately $8 billion based on both companies’ debt and equity values as of October 31, 2023, will be a leading amusement park operator in the highly competitive leisure space with an expanded and diversified footprint, a more robust operating model and a strong revenue and cash flow generation profile.

“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,” Cedar Fair President and CEO Richard Zimmerman said.

“Together, we will have an expanded and complementary portfolio of attractive assets and intellectual property to deliver engaging entertainment experiences for guests,” Zimmerman continued. “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,” Zimmerman concluded.


Original Text

United States amusement park operator Cedar Fair is reportedly considering a potential merger with Six Flags Entertainment Corp.

According to Reuters.com, confidential sources revealed that Cedar Fair and Six Flags are considering a deal as concerns about an economic slowdown in the U.S. and consumers spending less could force the brands to weather the storm together.

The theme park companies previously spoke about a merger in 2019, but no deal is imminent. Sources told Reuters that if an agreement is reached on merger details, it could be announced as soon as Thursday when Cedar Fair reports quarterly earnings.

As of Thursday morning, Cedar Fair has a market value of $1.8 billion, while Six Flags is worth an estimated $1.7 billion. Despite their immense value, the theme park brands struggled to find their footing after the COVID-19 pandemic took a toll on revenue.

In total, Six Flags owns 27 parks across the U.S., Mexico and Canada, and is the largest operator of water parks in North America. Cedar Fair owns 11 amusement parks and four water parks in the U.S. and Canada.

In August, Six Flags announced one of the most substantial planned investments in the company’s theme parks in more than a decade. The investments span across more than a dozen parks, featuring an impressive lineup of thrilling additions designed to captivate and exhilarate guests. 

The expansion includes five brand-new rides in partnership with Warner Bros. Discovery Global Themed Entertainment and DC, bringing iconic DC Super Heroes and Super-Villains to life in exhilarating experiences.


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