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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
"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
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