In a landmark development in the amusement park industry, Cedar Fair, the parent company of Schlitterbahn parks in New Braunfels and Galveston, has officially entered into a merger agreement with Six Flags. The combined venture is poised to create an enterprise with an estimated value of approximately $8 billion, boasting a total of 27 amusement parks, 15 water parks, and nine resort properties.
This strategic move expands the geographical reach of the conglomerate, spanning across 17 states and reaching into Mexico and Canada, as detailed in an official news release. Cedar Fair President and CEO Richard Zimmerman expressed enthusiasm about the merger, emphasizing the potential for a highly diversified footprint and a more robust operating model.
The Schlitterbahn parks in New Braunfels and Galveston, previously family-owned for 40 years, became part of Cedar Fair in 2019 through a $261 million acquisition. Meanwhile, Six Flags Fiesta Texas, which opened in San Antonio in 1992, has been a key player in the amusement park landscape.
Over the past 12 months, Six Flags and Cedar Fair collectively welcomed an impressive 48 million guests, translating to a potential combined revenue of $3.4 billion. Six Flags President and CEO Selim Bassoul highlighted the merger’s potential to redefine the amusement park experience by leveraging the strengths of both companies.
The merger, subject to regulatory approval, is anticipated to be finalized in the first half of 2024, according to the news release. While the announcement does not provide specific details about potential changes to existing parks, it leaves open the question of whether the merger will bring significant alterations to the Schlitterbahn locations in New Braunfels and Galveston, as well as Six Flags Fiesta Texas in San Antonio. As the industry eagerly awaits further developments, patrons and enthusiasts are left to ponder the potential transformation of these beloved entertainment destinations.
