Six Flags Entertainment Corp. and Cedar Fair have entered into a definitive merger agreement.
The transaction, one of the largest of its kind in decades, will result inThe new company will operate as Six Flags and will be based in Charlotte, North Carolina. Six Flags has had its headquarters in North Texas for years.
Industry veteran Dennis Speigel, founder and CEO of International Theme Park Services Inc., said based on calls he’s fielded from the investment community over the last few weeks, he suspected something was in the works. While the company will take on the Six Flags name, it will be led by Cedar Fair CEO Richard Zimmerman. Selim Bassoul, who has served as president and CEO of Six Flags, will move into a new role as executive chairman of the combined company’s board of directors.
“Since joining the Cedar Park family, Schlitterbahn has continued to make significant investments,” said Jonathan Packer, president and CEO of the New Braunfels Chamber of Commerce. “We expect the Schlitterbahn brand to remain as strong as ever and look forward to future innovation and investment as a result of this merger.”
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