SeaWorld Entertainment Inc. offers to buy Cedar Fair for $3.4 billion – Akron Beacon Journal

Former Sea World trainer Nico Maragos waves to the crowd during a dolphin show at Sea World.

SeaWorld Entertainment Inc. has offered to purchase Sandusky-based amusement park operator Cedar Fair Entertainment Co.

The news outlet Bloomberg reported the proposal was for $3.4 billion, citing unnamed sources. SeaWorld operated SeaWorld Ohio in Aurora until 2007.

Cedar Fair confirmed it has received an unsolicited non-binding proposal.

Cedar Point:Park hikes daily ticket prices by $10; fate of Top Thrill Dragster still in limbo

“Consistent with its fiduciary duties, and in consultation with its independent legal and financial advisors, the Cedar Fair Board of Directors will carefully review and consider the proposal to determine the course of action that it believes is in the best interest of the Company and its unitholders. Cedar Fair unitholders do not need to take any action at this time,” the company stated.

Cedar Fair operates 13 amusement parks across the country, including Cedar Point in Sandusky and Kings Island outside Cincinnati in Ohio. It claims annual revenue of $1.3 billion.

SeaWorld Entertainment owns eight theme parks and four water parks across the country. 

Cedar Fair purchased the former Sea World Ohio property, along with the former Geauga Lake amusement park in Aurora and Bainbridge Township. The total 377-acre property was sold by Cedar Fair in 2020 to the Cleveland-based development firm Industrial Commercial Properties.

The land is in various stages of approval for retail, commercial and residential development.

Geauga Lake: Geauga Lake’s next development phase underway with shops, offices and homes planned

Eric Marotta can be reached at 330-541-9433, or Follow him on Twitter @MarottaEric.

Leave a comment

Your email address will not be published. Required fields are marked *