Cedar Fair completes purchase of Schlitterbahn’s New Braunfels and Galveston parks
SAN ANTONIO (KTSA News) — Schlitterbahn is officially under new ownership.
Cedar Fair Entertainment Company, a publicly traded Ohio company, announced the completion of its $261 million purchase of Schlitterbahn’s New Braunfels and Galveston parks and resort Monday.
“Starting today, Cedar Fair is officially Texas proud,” said President and CEO Richard Zimmerman. “The completion of this acquisition is great news, and we are extremely pleased to be adding to our portfolio of entertainment properties two of the nation’s most treasured and award-winning water parks. For the employees and guests of those parks, I want to extend a warm welcome to the Cedar Fair family.
“Our company, whose heritage at Cedar Point in Sandusky, Ohio, dates back to 1870, has a rich history of acquiring and investing in strong regional brands in attractive markets,” continued Zimmerman. “The quality of the Schlitterbahn brand and the offerings of these parks are consistent with that strategy. Our plans are to update and refresh areas of both parks, yet retain the valued hospitality and genuine spirit of the Schlitterbahn brand that guests have come to appreciate over the years.”
The deal also gives Cedar Fair the first right to purchase Schlitterbahn’s park — which no longer operates under the brand name –in Kansas.