Six Flags and Cedar Fair — the company that owns Schlitterbahn — will finally merge months after entering a definitive merger agreement.
Tuesday that the merger will be finalized on July 1. The transaction is one of the largest of its kind in decades, resulting in a combined company value of $8 million.The company will operate under the name Six Flags Entertainment Corporation and will be headquartered in Charlotte, North Carolina. That means the Six Flags headquarters will leave Arlington in North Texas.
Richard Zimmerman, president and CEO of Cedar Fair, will serve as president and CEO of the combined company. Selim Bassoul, president and CEO of Six Flags, will serve as executive chairman of the combined company’s Board of Directors. “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 said. “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.”
The combined portfolio includes 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada and Mexico. Six Flags Fiesta Texas, Schlitterbahn New Braunfels, The Resort at Schlitterbahn and Schlitterbahn Waterpark Galveston fall under their umbrella.It’s unclear if the DOJ approved the finalization, but Tuesday’s news release stated: “The completion of the Mergers is subject to the satisfaction or waiver of a number of conditions set forth in the merger agreement relating to the Mergers, including the satisfaction of regulatory conditions.
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