A rollercoaster at Dorney Park & Wildwater Kingdom in Allentown, Pa. The amusement park's parent company Cedar Fair is merging with Six Flags.Six Flags is preparing to merge with Cedar Fair Entertainment Co., the Ohio-based amusement park conglomerate that owns Allentown’s Dorney Park., and create one of the United States’s largest theme park operators. Cedar Fair investors will be the majority shareholders, owning just over 51% of the stock in the in the joined venture.
The new company — which will retain the Six Flags name and have a new headquarters in Charlotte, N.C. — will be helmed by Cedar Fair CEO Richard Zimmerman.The merger is expected to be complete in first half 2024, according to Bloomberg, and still requires approval from Six Flags shareholders. The companies previously discussed joining forces in 2019, but that plan never came to fruition.
After the merger was announced, Six Flag’s stock price jumped over 2% to $21.48 per share as of Thursday morning. Cedar Fair’s, meanwhile, fell $2.00 to $36.19. When completed, the Six Flags-Cedar Fair entity would include 42 amusement or water parks and nine resorts across North America.Dorney Park is one of Pennsylvania’s oldest amusement parks, second only to Idlewild near Pittsburgh.
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