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Schlitterbahn sold

End of an era, as another iconic family-owned Texas business is sold to a non-Texas firm.

Schlitterbahn Waterparks and Resorts — which has dealt with a gruesome death, indictments and financial troubles in recent years — is selling a chunk of its holdings.

Ohio-based Cedar Fair Entertainment Co. has an agreement with the owners of Schlitterbahn to purchase the company’s New Braunfels park and resort property as well as their Galveston park for $261 million, subject to certain adjustments.

“It’s important to know that Cedar Fair values Schlitterbahn’s character and brand promise,” the Henry family — Schlitterbahn’s owners — said in a statement. “They have committed to not only keeping Schlitterbahn awesome but helping us grow!”

Richard Zimmerman, Cedar Fair’s president and CEO, said the company is “very excited about the opportunity to bring these two award-winning Texas water parks into the Cedar Fair family.”

“These properties represent new markets for us with attractive demographics in the growing Central Texas region, and they align with our strategy to identify compelling opportunities to accelerate our growth and profitability,” he said in a statement.

That’s Schlitterbahn and Whataburger all in the same week, y’all. As we know, the Schlitterbahn has had some trouble in recent years, though at least the criminal charges that were filed have been dismissed. It sounds like the family had been looking to sell for awhile, as they were having cash flow problems that caused some planned new parks to not happen. They are retaining the South Padre park, which will be rebranded. I hope the new owners can get everything back to its old glory, and I hope the Henry family can get themselves back on their feet. The Current has more.

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