Ohio-based Cedar Fair Entertainment Company today announced it has entered into an agreement to acquire the land upon which its California’s Great America amusement park is located for approx. 133 million Euro (150 million US-Dollar). The operator group has leased the over 45-hectare land from the city of Santa Clara since the origin of the park in 1976. “This is a once in a generation opportunity to solidify our control of 112 acres in the heart of Santa Clara. The transaction underscores our long-term commitment to enhancing and expanding California’s Great America, ensuring a high-quality, family-friendly entertainment destination for those who live and work in Northern California,” says Richard A. Zimmerman, President & CEO of the Cedar Fair company.
The transaction is scheduled to be closed in the second quarter of 2019, the company aims to finance the deal through additional long-term borrowings. (eap)