Parent Co. of New Jersey Amusement Giant Agrees to Merger
Two of the largest amusement companies in the country with deep regional roots, have agreed to a merger of equals valued at 8 billion dollars.
The companies, Six Flags Entertainment Corporation, owners of Six Flags Great Adventure in Jackson Township and Cedar Fair, and owners of Dorney Park and Wildwater Kingdom in Allentown, Pennsylvania agreed to merge their amusement and waterparks, and resort properties.
In all, the combined company will have an impressive portfolio of over 50 properties. Richard Zimmerman, President and Chief Executive Officer of Cedar Fair said,
“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,”
Great Adventure is celebrating its 50th anniversary and is undergoing a freshening-up. Visitors will soon have a new roller coaster to check out, and the park is set to offer what they call, Safari Glamping.
Visitors will soon be able to camp overnight in new luxury accommodations in the safari park, something no one could have imagined when the park opened in the mid-seventies as a drive-through attraction. Selim Bassoul, President and Chief Executive Officer of Six Flags says,
Six Flags and Cedar Fair share a strong cultural alignment, operating philosophy, and steadfast commitment to providing consumers with thrilling experiences. By combining our operational models and technology platforms, we expect to accelerate our transformation activities and unlock new potential for our parks.
The deal is set to close early next year pending stock-holder and government approval.
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