Cedar Fair Sells San Diego Water Park to SeaWorld
SANDUSKY, Ohio, Nov. 20, 2012 /PRNewswire/ -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that it has sold Knott's Soak City – San Diego, a stand alone water park in Southern California, to a subsidiary of SeaWorld Parks & Entertainment. Terms of the agreement were not disclosed and are not material to Cedar Fair's results of operations. The sale of the San Diego water park has no impact on the Company's other properties located in California.
"For this particular property, a unique opportunity presented itself to team with SeaWorld to offer a premium product to its guests in the San Diego region," said Matt Ouimet, president and chief executive officer. "The net proceeds from this sale will be reinvested in our core assets including the multi-year refreshment of our hotel properties in Sandusky, Ohio that was announced earlier this month."
About Cedar Fair
Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, five outdoor water parks, one indoor water park and five hotels. Its parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, and Toronto, Ontario. Cedar Fair also operates the Gilroy Gardens Family Theme Park in California under a management contract. Cedar Fair's flagship park, Cedar Point, has been consistently voted the "Best Amusement Park in the World" in a prestigious annual poll conducted by Amusement Today newspaper.
This news release and prior press releases are available online at www.cedarfair.com.
Contact: Stacy Frole (419) 627-2227
SOURCE Cedar Fair Entertainment Company