The prominent La Ronde amusement park in Montreal has been sold by Six Flags Entertainment as part of a significant transaction valued at $331 million USD (approximately $452 million CAD). This deal includes the sale of seven amusement parks located in both Canada and the United States.
Details of the Acquisition
The buyer, EPR Properties, is a publicly traded real estate investment trust listed on the New York Stock Exchange. EPR specializes in owning experiential properties and boasts a robust asset portfolio worth $5.7 billion across 43 states in the U.S. and Canada. This marks EPR’s largest acquisition since 2017.
EPR Properties’ Statement
Gregory K. Silvers, CEO of EPR Properties, commented on the deal: “These properties embody the essential characteristics we seek, including stable, long-term cash flow, drive-in accessibility, multigenerational appeal, and significant underlying real estate value.”
Operational Changes Following the Sale
With the acquisition finalized, La Ronde will now be leased and operated by La Ronde Operations, a newly established company. Kieran Burke, a former Six Flags executive, will manage this operation. Burke already oversees EPR’s Village Vacances Valcartier in Quebec and the Calypso water park in Limoges, Ontario.
Previous Transactions
It’s worth noting that the Calypso-Valcartier group, previously owned by the Drouin family, sold its portfolio to EPR in 2022 for $179 million. This transaction included all assets, such as the Calypso amusement park and the complete Valcartier Park, which features various attractions including Bora Parc, Hotel Valcartier, the camping area, and the Ice Hotel.
Further details regarding the operational transition of La Ronde will be disclosed in the coming weeks.
