SeaWorld has made an offer to buy amusement park owner Cedar Fair for $3.4 billion. The news was first reported by Bloomberg.
Both companies are working with advisors on the potential merger that would marry properties like SeaWorld, Busch Garden, and Sesame Place with Knott’s Berry Farm, Cedar Point, and King’s Island among other properties as well.
Cedar Fair is taking a look at the bid. Cedar Fair has rejected acquisition offers in the past. Most notably in 2019 when Six Flags attempted to acquire Cedar Fair.
Both Cedar Fair and SeaWorld shares rose at the news. If the deal does happen it would be a major moment in the amusement park industry. It could also lead to more consolidation among competitors. A combined SeaWorld and Cedar Fair would have multiple properties ranging from theme parks to water parks to hotels.
It will be interesting to see how this unfolds. Also, does SeaWorld have a backup option? What might some of the other players in the theme park industry do? We got a lot to watch with this story.
Zach Perilstein is the Editor-in-Chief of the Boardwalk Times
