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The combined company will operate 42 parks and nine resorts across 17 states as well as Canada and Mexico and is valued at around $8 billion, according to management.
Under the terms of the deal, Cedar Fair unitholders will own about 51.2 percent of the newly merged company, while the remaining 48.8 percent will be owned by Six Flags shareholders.
Company leaders said Cedar Fair's and Six Flags' existing portfolios "have minimal market overlap" and that their "complementary geographic footprint" should help keep revenue steady during the off-season.
“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,” said Cedar Fair President and CEO Richard Zimmerman.
“Together, we will have an expanded and complementary portfolio of attractive assets and intellectual property to deliver engaging entertainment experiences for guests."
“The combination of Six Flags and Cedar Fair will redefine our guests’ amusement park experience as we combine the best of both companies,” said Selim Bassoul, CEO and president at Six Flags.
"By combining our operational models and technology platforms, we expect to accelerate our transformation activities and unlock new potential for our parks."
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