Iconic North American theme park operators Six Flags and Cedar Fair have finalized their merger and will bring their assets together under the new banner Six Flags Entertainment.

The companies announced the merger last November to better position them for growth and to compete with industry giants Disney and Comcast. Now worth a combined US$8 billion, the new Six Flags mega-merger operates a total of 51 location-based entertainment ventures, including Canada’s Wonderland, Knott’s Berry Farm, Dorney Park & Wildwater Kingdom and the 13 Six Flags-branded parks across the US. 

Under the agreement, Cedar Fair’s Richard Zimmerman will serve as CEO and president of the merged company, while Six Flags CEO Selim Bassoul transitions to a new role as executive chairman of its board of directors.

“Our enhanced financial flexibility will enable us to invest in new rides, attractions, food and beverage options, and state-of-the-art consumer technologies, ensuring continuous improvement and innovation, [so] each park visit is more exciting and memorable than the last,” said Zimmerman in a release. 

Post-merger, each park in Six Flags Entertainments’ combined portfolio will retain its current branding, with no plans in the works to change any legacy park names.