Cedar Fair Acquired By Management Group

[glendalais]

Yahoo! News: Apollo to buy amusement park operator Cedar Fair

Cedar Fair Entertainment Company, which among other things, operates Knotts Berry Farm in Southern California as well as the Cedar Point Amusement Park in Ohio has agreed to be acquired by an Asset Management Group.

At this time, this is not expected to affect operations at any of the company's Theme Parks in either the United States or Canada.

[felinefan]

It had to happen. Cedar Fair sucks, especially Knott's. So the poor ROs at Knott's still have to suffer daily harassment and abuse from management?

[dazyhill]

I first heard the news from my local TV station before I went into to work.
I am not sure about Apollo , but I think it's premature to say it will not affect operations. They are going to go over the books and trim the fat (and there's a lot of it).
Unfortunately I do not have any Cedar Fair stock so I will not be getting any $ from the buyout. I never bought any stock because I never had any faith in the company, but some extra money would have helped.
I think I need to leave Knott's while I still have a choice in the matter.

[GRUMPY PIRATE]

I would hope that they take a page from Disney ideals and get the parks back on track!

[hhsrat]

Does anyone know anything about Apollo Global Management? What other things do they own, do they have any experience with themeparks, are they a subsidiary of another company, etc?

[Zazu]

Does anyone know anything about Apollo Global Management? What other things do they own, do they have any experience with themeparks, are they a subsidiary of another company, etc?

For more information that you probably ever wanted, see this Wikipedia article about them.

Short version: "The firm specializes in leveraged buyout transactions and purchases of distressed securities involving corporate restructuring...."

Doesn't look good for long term job security, but then neither did the status quo.

[darph nader]

For more information that you probably ever wanted, see this Wikipedia article about them.

Short version: "The firm specializes in leveraged buyout transactions and purchases of distressed securities involving corporate restructuring...."

Aw yes,corporate gobbledy goop.

[hobie16]

Aw yes,corporate gobbledy goop.

Not really. It's just another way to say they're monetizing assets. Oh, wait a minute, that's more gobbledy goop.

[Ms. Matterhorn]

For more information that you probably ever wanted, see this Wikipedia article about them.

Short version: "The firm specializes in leveraged buyout transactions and purchases of distressed securities involving corporate restructuring...."

Doesn't look good for long term job security, but then neither did the status quo.

Doesn't look good for the guests' experience either. I don't know how Knott's could get any worse, but I'll bet they will manage somehow.