SANDUSKY, Ohio – Don’t expect changes overnight with the completion today of the merger between Cedar Fair and Six Flags, two amusement park giants that are now one.
Eventually, park guests at Cedar Point, Kings Island and other affected parks could see some cost savings and the sharing of rides, technology and intellectual property.
But for now, it’s business as usual for the new Six Flags Entertainment Co., headquartered in Charlotte, N.C., with a portfolio of 27 amusement parks, 15 water parks and nine resorts across 17 states, Canada and Mexico.
The merger finalized at the close of business Monday.
In a statement, the company said it was not planning any name or branding changes at any of the parks.
“Today marks a significant milestone for our company, shareholders, guests and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences,” said Richard Zimmerman, president and chief executive officer of the new Six Flags.
Starting Tuesday, the new company will trade on the New York Stock Exchange as FUN, which was the ticker for Cedar Fair.
Though the name Cedar Fair goes away, former Cedar Fair executives will be running the new company, including Zimmerman, Chief Operating Officer Tim Fisher and Chief Financial Officer Brian Witherow.
Company headquarters will be in Charlotte, which is where many top Cedar Fair executives have worked for years. Sandusky will retain a satellite corporate office, with finance and administrative staff.
James Hardiman, an analyst with Citi Research, said Six Flags parks are the big winners in the deal.
Six Flags, formerly headquartered outside Dallas, was founded in 1961; flagship parks include Six Flags Great America near Chicago, Six Flags Over Georgia near Atlanta and Six Flags Magic Mountain near Los Angeles.
Six Flags parks generally are perceived to be not as well run as their Cedar Fair counterparts, according to industry observers.
“They’ll end up looking more like Cedar Fair parks in terms of quality and customer service and overall cleanliness,” said Hardiman, who has followed the theme park industry for many years. “That’s my hope.”
Hardiman, who lives in Shaker Heights, said his only regret is that Sandusky is losing the corporate headquarters.
“As a Clevelander, my only real hangup is that the headquarters is moving to Charlotte,” he said.
Cedar Fair has been headquartered in Sandusky since 1983, when the company was created after Cedar Point purchased Valleyfair, a park outside Minneapolis.
In the decades since, the company has purchased more than a dozen other parks, including Kings Island near Cincinnati, Knott’s Berry Farm in California, Canada’s Wonderland in Toronto and Carowinds in North Carolina.
Walt Schmidt, co-founder of the Cedar Point fan site Pointbuzz.com, said he didn’t believe most Cedar Point fans were too concerned about the merger.
“I think most understand that with the Cedar Fair leadership team largely staying in place, the only thing that’s really changing is the company name,” he said. “There’s some nostalgia there with the Cedar Fair name, but I expect it to be business as usual for now.”
A few dozen corporate employees remain in Sandusky, according to Tom Horsman, communications manager for the city.
He noted that the company recently “made a significant investment in new corporate office space at the Cedar Point Sports Center complex and they have committed to keeping those corporate jobs in Sandusky.”
Cedar Fair in 2023 employed approximately 3,350 full-time employees along with 49,700 part-time workers, according to documents filed with the Securities and Exchange Commission; Six Flags had 1,350 full-time workers with 41,000 seasonal employees.
Industry consultant Dennis Speigel, the founder of International Theme Park Services, said layoffs among senior level management are probably likely – one part of how the company plans to attain $200 million in so-called synergies from the merger.
Still, he said, “This is good for amusement park goers, and for Six Flags in particular. It was on the downhill slide. Cedar Fair injection into that company is going to be huge.”
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