Six Flags Sells La Ronde Amusement Park
Six Flags Entertainment has officially sold the La Ronde amusement park in Montreal. This sale is part of a significant transaction valued at $331 million (or $452 million CAD). The deal involves a total of seven amusement parks located in both Canada and the United States.
Details of the Sale
EPR Properties, a publicly traded real estate investment trust (REIT) on the New York Stock Exchange, is the new owner. EPR specializes in owning “experiential assets.” The company currently manages a portfolio worth $5.7 billion, spanning 43 American states and Canada. This sale represents EPR’s largest transaction since 2017.
Statement from EPR Properties
Gregory K. Silvers, CEO of EPR Properties, commented on the acquisition. He emphasized that the properties acquired possess essential features such as:
- Stable long-term cash flow generation
- Accessibility by car
- Multigenerational appeal
- Significant underlying land value
Future Operations of La Ronde
La Ronde will now be leased and operated by La Ronde Operations, a newly established entity. Kieran Burke, a former executive at Six Flags, will lead this company. Burke is already affiliated with EPR, having previously managed both the Village Vacances Valcartier in Quebec and the Calypso water park in Limoges, Ontario.
Related Transactions
In 2022, EPR Properties acquired the Calypso-Valcartier group, previously owned by the Drouin family, for $179 million. This acquisition included all assets of the group, such as:
- The Calypso park
- The entire Valcartier Park
- Bora Parc
- Valcartier Hotel
- Camping facilities
- Ice Hotel
Further details regarding the La Ronde amusement park transaction are expected to emerge in the coming weeks. This move marks a notable shift in the ownership dynamics of amusement parks in North America.
