UPDATE February 15 – SeaWorld put out this press release today “In response to inquiries from various stakeholders, we confirm that our offer to acquire Cedar Fair was rejected. Unfortunately, we do not see a path to a transaction.” This probably won’t come as a surprise to many who thought this was an unrealistic bid in the first place.
You may do a double take when first reading this headline. But it is indeed true. On Tuesday February 1, 2022 Bloomberg reported that SeaWorld Entertainment Inc. has made an offer to buy Cedar Fair for $3.4 billion.
Few details have been disclosed about this offer so far apart from the price. Cedar Fair is said to be considering and reviewing this offer as well as consulting with legal and financial advisors.
Cedar Fair owns thirteen theme parks around the US including the very popular Knott’s Berry Farm, Cedar Point, Kings Island and Kings Dominion. Both SeaWorld Entertainment Inc and Cedar Fair have suffered due to the COVID-19 pandemic over the last two years as have majority of theme park owners.
But it is no secret that SeaWorld Entertainment Inc. has also had their difficulties for a number of years pre-COVID-19. It has, however, struggled on and reported the positive news that its attendance continued to grow in 2021 after the lows of 2020. SeaWorld is hoping for a prosperous 2022 with the opening of four new much anticipated attractions which should keep guests heading to the parks:
- Ice Breaker at SeaWorld Orlando – opening February 18, 2022
- Iron Gwazi at Busch Gardens Tampa – opening March 11, 2022
- Pantheon at Busch Gardens Williamsburg – opening March 25, 2022
- Emperor at SeaWorld San Diego – opening March 12, 2022
It seems unlikely that Cedar Fair will accept this offer which has been reported as being on the low side but it is undeniably a bold move and definitely secures SeaWorld Entertainment Inc as a company that is certainly looking to secure its place in the theme park world and won’t be giving up anytime soon.
There has been a mixed response online this week as to the positives and negatives of this potential take over. Let us know what you think by leaving us a comment below or on our Facebook page.
