Carowinds Parent Company Cedar Fair and Six Flags to Merge, Creating $8 Billion Amusement Park Operator
The parent company of Carowinds, Cedar Fair, and Six Flags recently announced their plans to merge, forming a new $8 billion company. This exciting development in the amusement park industry will result in the creation of a leading amusement park operator. The headquarters of the merged company will be located in Charlotte, North Carolina. The merger brings together two iconic amusement park companies, enhancing their overall operational capabilities and expanding their portfolio of parks, resorts, and intellectual property.
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Newly Formed Company Details:
The merger will unite Cedar Fair and Six Flags, resulting in a combined operation of 27 amusement parks, 15 water parks, and nine resorts across the United States, Canada, and Mexico. This extensive and diversified footprint will allow the merged company to offer enhanced park offerings and improved performance. Richard Zimmerman, the current president and CEO of Cedar Fair, will continue in his role as the CEO of the combined company. Selim Bassoul, the president and CEO of Six Flags, will serve as the executive chairman of the newly formed company’s Board of Directors.
Merged Company’s Leadership and Structure:
The merged company will establish a new Board of Directors consisting of 12 members. Six directors will be selected from the Cedar Fair Board, while the remaining six will come from the Six Flags Board. This balanced representation will ensure a cohesive approach to decision-making and capitalize on the expertise and experience of both companies.
Headquarters and Operations:
The headquarters of the combined company will be located in Charlotte, further reinforcing the city’s status as a major hub for the amusement park industry. Additionally, significant finance and administrative operations will be maintained in Sandusky, Ohio. This dual operational presence will allow for efficient management and support across various regions.
The merger between Cedar Fair and Six Flags is expected to close within the first half of 2024. This timeline indicates that the two companies are actively working towards finalizing the necessary agreements and approvals to bring the merger to completion.
Implications for Carowinds:
Carowinds, one of the premier amusement parks operated by Cedar Fair, will be directly impacted by the merger. However, specific details regarding Carowinds’ future operations, attractions, and visitor experiences have not been outlined in the current announcement. Carowinds enthusiasts and visitors can look forward to updates and announcements regarding any changes or enhancements to the park’s offerings in the future.
Related News: Carowinds Will Not Operate Year-Round in 2024
In related news, it has been announced that Carowinds will not be open year-round in 2024. This decision suggests that Carowinds may undergo operational adjustments or modifications to its schedule. Visitors and enthusiasts should stay tuned for official announcements from Carowinds to plan their park visits accordingly.
Continuous News Coverage:
Keep up to date with the latest news on this merger and other developments in the amusement park industry through the continuous news coverage provided below.
In summary, the merger between Cedar Fair and Six Flags will create a prominent $8 billion company with headquarters in Charlotte. This strategic combination of two iconic amusement park operators will result in a highly diversified footprint and a robust operating model. Visitors can expect enhanced entertainment experiences and an expanded portfolio of attractions and intellectual property. The merger is set to close in the first half of 2024, and further updates and details will be unveiled as the process unfolds.
CHARLOTTE, N.C. (WBTV) – The parent company of Carowinds, Cedar Fair, and Six Flags are merging to create a new $8 billion company that will be headquartered in Charlotte.
The two companies announced the merge on Thursday, combining to operate a total of 27 amusement parks, 15 water parks and nine resorts across the United States, Canada and Mexico.
“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,” Richard Zimmerman, president and CEO of Cedar Fair, said. “Together, we will have an expanded and complementary portfolio of attractive assets and intellectual property to deliver engaging entertainment experiences for guests.”
Zimmerman will continue to serve as the CEO of the combined company, while Selim Bassoul, president and CEO of Six Flags, will serve as executive chairman of the combined company’s Board of Directors.
The newly formed Board of Directors will consist of 12 directors, six from the Cedar Fair Board and six from the Six Flags Board.
A press release stated that the combined company will be headquartered in the Queen City, with significant finance and administrative operations in Sandusky, Ohio.
The merge is expected to close during the first half of 2024.
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