CHARLOTTE, N.C. — Cedar Fair, the company that owns Carowinds, will merge with Six Flags Entertainment Corporation, the company announced Thursday.
The merger will bring Six Flags' headquarters to Charlotte.
The combined company will be comprised of 42 amusement parks and nine resort properties across the U.S., Mexico and Canada. It also has a pro-forma enterprise value of approximately $8 billion based on both companies’ debt and equity values as of Oct. 31, 2023.
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Richard Zimmerman, President and Chief Executive Officer of Cedar Fair, issued the following statement regarding the merger:
“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. Together, we will have an expanded and complementary portfolio of attractive assets and intellectual property to deliver engaging entertainment experiences for guests. The combination also creates an enhanced financial profile with strong cash flow generation to accelerate investments in our parks to delight our guests, driving increased levels of demand and in-park value and spending. I have great respect for the Six Flags team and look forward to joining forces as we embark on this next chapter together.”
The merger is expected to close in the first half of 2024, following receipt of Six Flags shareholder approval.
WCNC Charlotte has reached out to Carowinds for comment.
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