Cedar Fair, a publicly traded partnership headquartered in
Sandusky, Ohio that owns Gilroy Gardens and Great America Amusement
Park in Santa Clara, to name a few, announced today it has entered
into a
”
definitive agreement
”
to sell Great America for $70 million in cash.
Cedar Fair, a publicly traded partnership headquartered in Sandusky, Ohio, that manages Gilroy Gardens and owns Great America Amusement Park in Santa Clara, announced today it has entered into a “definitive agreement” to sell Great America for $70 million in cash.
Despite circulating reports that claim this transaction includes Gilroy Gardens, owned by the City of Gilroy, City Finance Director Christina Turner reiterated Gilroy Gardens “is not scoped into the potential purchase.”
Barb Granter, general manager of Gilroy Gardens, explains “when Cedar Faire sells great America, they will assign that management to the new owner so that the relationship between the two parks will continue.”
Granter explained the city’s role will not change when it comes to owning the land and the assets of Gilroy Gardens, which is operated by a 501 (c)(3) nonprofit run by local volunteers and a board of directors.
Cedar Fair agreed to sell Great America to JMA Ventures LLC, a San Francisco real estate investment firm, Monday. Apparently JMA is working with San Francisco 49ers officials, who are planning to build an NFL stadium at a site across the street from Great America in Santa Clara.
