$8B Deal Joins Six Flags Great Adventure, Dorney Park Owners

The parent companies of Six Flags Great Adventure and Dorney Park are joining forces in an $8 billion "merger of equals" that will combine the two largest amusement park companies in the United States.

Officials with Cedar Fair and Six Flags Entertainment Corp. announced the merger Thursday. It is expected the merger, which has been approved by both boards of directors, will be completed in the first half of 2024. It requires approval from Six Flags shareholders and regulators, but is anticipated to save the companies $120 million in administrative and operational costs, they said.

The merger will unite 27 amusement parks, 15 water parks and nine resorts across 17 states, plus Canada and Mexico, which exist with minimal market overlap, officials said. The combined geographic footprint is "expected to mitigate the impact of seasonality and reduce earnings volatility," and offers a wider range of facilities, such as the safari experience at Six Flags Great Adventure, the announcement said.

It will allow the company "to better meet rising consumer demand for varied and engaging entertainment options," the announcement said.

Six Flags had announced renovations at Great Adventure for the 50th anniversary of the park in Jackson, including a new roller coaster and a safari glamping experience, and the announcement said those plans will move forward.

"The companies expect to leverage Cedar Fair’s recent park investment experience to accelerate the transformation underway across Six Flags’ portfolio," the announcement said.

It also will offer expanded park access to season pass holders along with an enhanced, combined loyalty program featuring additional perks, they said.

The companies' partnerships with entertainment companies including Looney Tunes, DC Comics and Peanuts are expected to remain in place.

"The combination of Six Flags and Cedar Fair will redefine our guests’ amusement park experience as we combine the best of both companies," said Selim Bassoul, president and chief executive officer of Six Flags. "Six Flags and Cedar Fair share a strong cultural alignment, operating philosophy, and steadfast commitment to providing consumers with thrilling experiences."

"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," said Richard Zimmerman, president and chief executive officer of Cedar Fair. "I have great respect for the Six Flags team and look forward to joining forces as we embark on this next chapter together."