On the roller coaster of corporate deals, the merger between Six Flags and Cedar Fair is about to click into its final descent. Set to be finalized on the theme park calendar's red-letter day of July 1, the amalgamation will see two of America's most renowned amusement park operators becoming one mammoth entity under the banner of Six, Flags Entertainment Corporation. According to the Houston Chronicle, this merger of Texas-based Six Flags and Ohio's Cedar Fair will see the headquarters planting its colorful flags in Charlotte, North Carolina.
As the coasters of both companies set to swiftly merge, it seems fitting that the new guard steering this titanic join-up is a blend of the old. Richard Zimmerman, Cedar Fair's chief executive, is set to keep a firm grip on the CEO title, while Six Flags' chief Selim Bassoul will be taking up the mantle of executive chairman. As this duo prepares to potentially redefine to dominate the amusement park lanes, Zimmerman emphasized in a statement obtained by the PYMNTS.com the strength laying in the experience-filled 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 said.
Conversations about this merger began in November 2021, when the two companies initially floated the idea of combining forces. Now, the business impact of this blockbuster merger is not to be taken lightly; with a combined worth of a head-spinning $8 billion, the deal amplifies the muscle of the newly formed Six Flags Entertainment Corporation to a portfolio boasting 27 amusement parks, 15 water parks, and nine resorts spanning across the United States and Canada. This news comes after Six Flags' shareholders approving the merger in early March, as mentioned in the Houston Chronicle report.
But this theme park tandem did not come without its dizzying spins and turns. The process, expectedly, went through its own regulatory loop-de-loops with the U.S. Department of Justice throwing its weight around with a request for more information back in January. Zimmerman addressed the expected red tape in a conference call earlier this year, noting they "understand there's a process to go through," as documented by the Houston Chronicle. The combined company is set to bring together decades of amusement park legacy, where roller coaster and cotton candy fans alike can expect to find hopefully improved operations and guest experiences in this revived corporate structure.
