Six Flags headquarters will move out of Arlington following the amusement park giant’s merger with Cedar Fair.
The merger is slated to close on July 1, but the park will continue to operate under the Six Flags name, according to The Dallas Morning News. Following the merger, the combined worth of the company will be approximately $8 billion. With the addition of Six Flags amusement parks, Cedar Fair will own and operate over 40 amusement and water parks.
Six Flags headquarters will transition to Charlotte, North Carolina, where Cedar Fair has its home office, Fox 4 KDFW reported.
Cedar Fair and Six Flags have called their deal a “merger of equals”; however, Cedar Fair shareholders may have more to gain, as they will receive 51.2% equity in the new company, reported DMN. Shareholders of Six Flags will receive 48.8%.
Richard Zimmerman, president and CEO of Cedar Fair, will lead the new combined company and keep his current role. Selim Bassoul, president and CEO of Six Flags, will sit on the company’s board of directors as the executive chairman, per Fox 4.
“We are fortunate to have a proven team of leaders who bring decades of park operating experience and significant expertise in integrating business and achieving synergy targets for the combined company,” Zimmerman commented. “Their insights and complementary skill sets will be instrumental as we combine two of North America’s iconic amusement park companies and forge a new future together.”
The merger is not expected to impact the operation of the Six Flags Over Texas park in Arlington, according to WFAA.
The merger was announced last November, Fox 4 reported. The new company will be competing with other industry giants like Universal Parks & Resorts, which plans to open a theme park in Frisco, as previously reported by The Dallas Express.