A Sandusky, Ohio-based amusement park operator is planning to buy Schlitterbahn Waterpark and Resort’s New Braunfels park and resort and its Galveston park.
Cedar Park Entertainment Co. has an agreement to buy the properties for $261 million, subject to certain adjustments. It also has the right to purchase the company’s Kansas City site for $6 million.
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With the Schlitterbahn acquisitions, Cedar Park’s portfolio will include 15 parks as well as resorts, RV sites and marinas.
The company operates venues in Ohio, California, North Carolina, Pennsylvania, Virginia, Michigan, Minnesota, Missouri and Canada.
Cedar Fair’s venues drew 25.9 million visitors last year, and the company reported $1.35 billion in annual net revenue.