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HomeBusinessSeaWorld Leisure Inc. provides to purchase Cedar Honest for $3.4 billion

SeaWorld Leisure Inc. provides to purchase Cedar Honest for $3.4 billion

Former Sea World coach Nico Maragos waves to the gang throughout a dolphin present at Sea World.

SeaWorld Leisure Inc. has supplied to buy Sandusky-based amusement park operator Cedar Honest Leisure Co.

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

Cedar Honest confirmed it has acquired an unsolicited non-binding proposal.

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“According to its fiduciary duties, and in session with its unbiased authorized and monetary advisors, the Cedar Honest Board of Administrators will fastidiously overview and contemplate the proposal to find out the plan of action that it believes is in the most effective curiosity of the Firm and its unitholders. Cedar Honest unitholders don’t must take any motion presently,” the corporate acknowledged.

Cedar Honest operates 13 amusement parks throughout the nation, together with Cedar Level in Sandusky and Kings Island exterior Cincinnati in Ohio. It claims annual income of $1.3 billion.

SeaWorld Leisure owns eight theme parks and 4 water parks throughout the nation.

Cedar Honest bought the previous Sea World Ohio property, together with the previous Geauga Lake amusement park in Aurora and Bainbridge Township. The entire 377-acre property was offered by Cedar Honest in 2020 to the Cleveland-based growth agency Industrial Business Properties.

The land is in varied levels of approval for retail, industrial and residential growth.

Geauga Lake: Geauga Lake’s subsequent growth part underway with retailers, workplaces and houses deliberate

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Eric Marotta might be reached at 330-541-9433, or [email protected] Comply with him on Twitter @MarottaEric.

This text initially appeared on Akron Beacon Journal: SeaWorld seeks buy of Cedar Level, Kings Island proprietor

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