CHARLOTTE – Cedar Fair, which owns Carowinds, will combine with Six Flags Entertainment in what the two companies are calling a merger of equals.

The combined company will be headquartered in Charlotte. The deal is expected to close in the first half of 2024, according to the announcement Thursday.

The combined company will operate a portfolio of 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada, and Mexico. The publicly traded company will go by the name Six Flags and trade under the NYSE ticker symbol FUN, which Cedar Fair uses now.

The combined company is valued at $8 billion, based on debt and equity values as of Oct. 31, according to the companies.

Cedar Fair President and CEO Richard Zimmerman, who already lives in Charlotte, will serve in the same role with the combined company. Selim Bassoul, president and CEO of Six Flags, will serve as executive chairman of the combined company’s board of directors.

For more details, read the full story at Business North Carolina.