News: Paramount Parks purchase signals change for Cedar Fair

Posted at 1:55 AM EDT (0555 GMT)

Jun. 5th, 2006 -- With the purchase of Paramount Parks nearly complete, Cedar Fair is now expecting to make a few changes throughout the chain, which now includes 12 amusement parks in the United States and Canada.  One change that has sparked some attention in particular is the reconsideration of retirement by Dick Kinzel, CEO of Cedar Fair, now that he has five new parks to work on.  Kinzel, who's contract with Cedar Fair runs until January 2008, has led the company since 1986.

“I have indicated to the board that if they want me, I would stay through the integration of this process, which will probably be three to five years,” he said. “I would certainly love to accept the challenge of that.”

The purchase of the five Paramount parks could also result in a relocation of Cedar Fair headquarters, but when asked about it, Kinzel responded by saying that the subject would be evaluated when the lease on Paramount Park's headquarters in Charlotte, N.C. is up in September.

Although Kinzel hasn't given any specifics on whether the parks' current management would remain as it is, he has noted that there will be some reorganization of duties at the corporate level now that the chain has more ground for management to cover.

Cedar Fair’s new parks will include Kings Island in Cincinnati, Canada’s Wonderland in Toronto, Carowinds in Charlotte, Kings Dominion in Virginia and Great America in California. The purchase also includes Star Trek: The Experience at the Las Vegas Hilton as well as Bonfante Gardens in Gilroy, California.

For more information please visit Crain's Cleveland Business.

See also: Cedar Fair purchases Paramount Parks for $1.24B