Cedar Fair Rejects Sea World’s Multi-Billion Dollar Proposal

Earlier this month, amusement park aficionados were excited (or disappointed) when SeaWorld put in an offer to purchase Cedar Fair which has reportedly been rejected.

What’s Happening:

  • Earlier this month, SeaWorld Entertainment Inc. put in an offer to buy amusement park company Cedar Fair for 3.4 billion, but according to a release from SeaWorld Entertainment Inc. today, that transaction has been rejected.
  • The original bid of 3.4 billion for Cedar Fair and their existing properties, which include the landmark Cedar Point in Ohio and the iconic Knott’s Berry Farm in California was put in and examined by analysts on both sides, but was ultimately rejected based on the statement.
  • It also appears that there will be no counter offer or any other recourse to complete the transaction at this time.
  • SeaWorld Entertainment, Inc. is a leading theme park and entertainment company providing experiences that matter, and inspiring guests to protect animals and the wild wonders of our world. The Company is one of the world's foremost zoological organizations and a global leader in animal welfare, training, husbandry and veterinary care. The Company collectively cares for what it believes is one of the largest zoological collections in the world and has helped lead advances in the care of animals. The Company also rescues and rehabilitates marine and terrestrial animals that are ill, injured, orphaned or abandoned, with the goal of returning them to the wild. The SeaWorld rescue team has helped more than 39,500 animals in need over the Company's history.  SeaWorld Entertainment, Inc. owns or licenses a portfolio of recognized brands including SeaWorld, Busch Gardens, Aquatica, Sesame Place and Sea Rescue. Over its more than 60-year history, the Company has built a diversified portfolio of 12 destination and regional theme parks that are grouped in key markets across the United States, many of which showcase its one-of-a-kind zoological collection. The Company's theme parks feature a diverse array of rides, shows and other attractions with broad demographic appeal which deliver memorable experiences and a strong value proposition for its guests.
  • SeaWorld Entertainment Inc. owns and operates:
  • Had the transaction gone through, then SeaWorld Entertainment would have acquired these properties:
    • California’s Great America (Santa Clara, CA)
    • Canada’s Wonderland (Vaughan, ON)
    • Carowinds (North and South Carolina)
    • Cedar Point (Sandusky, OH)
    • Cedar Point Shores (Sandusky, OH)
    • Dorney Park (Philadelphia, PA)
    • Kings Dominion & Soak City (Doswell, VA)
    • Kings Island (Cincinnati, OH)
    • Knott’s Berry Farm (Buena Park, CA)
    • Knott’s Soak City (Buena Park, CA)
    • Michigan’s Adventure (Muskegon, MI)
    • Valleyfair (Minneapolis, MN)
    • Worlds of Fun/Oceans of Fun (Kansas City, MO)
    • Schlitterbahn Water Park & Resort (New Braunfels, TX)
    • Schlitterbahn Water Park (Galveston, TX)