Cedar Fair was purchased today by equity firm Apollo Global Management for $2.4 Billion. It’s reminiscent of Blackstone’s purchase of Busch Gardens a few months ago. The New York Times has more:

”This transaction allows Cedar Fair unit holders to realize significant value from their investment in our company over recent trading levels,” Cedar’s lead director, Michael Kwiatkowski, said in a statement. ”Apollo has a strong track record of growing businesses, and its desire to add Cedar Fair to its portfolio serves as a testament to our solid business model and the talent of our people.”

Cedar Fair, based in Sandusky, Ohio, owns and operates 11 amusement parks, seven water parks and five hotels. Its properties include Cedar Point in Ohio, Canada’s Wonderland near Toronto, Dorney Park in Pennsylvania and California’s Knott’s Berry Farm and Great America.

Read the full article.

Also, see more coverage: Sandusky Register | CoasterBuzz | The Coaster Critic’s Blog

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