Cedar Fair extends Peanuts license through 2025

Posted | Contributed by Jeff

From the press release:

Cedar Fair, L.P. (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, Peanuts Worldwide, a subsidiary controlled by DHX Media, Ltd. (TSX: DHX.A, DHX.B; NASDAQ: DHXM), and the family of Charles M. Schulz have renewed the license agreement to showcase the iconic Peanuts characters, created by Schulz, throughout Cedar Fair's 11 amusement park locations. The agreement covers Cedar Fair's North American exclusive use of Peanuts in the company's attractions, entertainment and sports, food and beverage, lodging and retail operations. The new agreement extends the relationship to 2025.

Cedar Fair Chief Executive Officer Matt Ouimet said, "The renewed relationship between Cedar Fair and Peanuts Worldwide allows both companies to develop and extend their brands, creating a more immersive experience for guests through meet-and-greets, live entertainment, merchandise and themed areas throughout the parks. The value Peanuts brings to our parks is demonstrated in many ways; for example, our Peanuts themed Planet Snoopy children's area at Kings Island near Cincinnati was just named "Best Kid's Area" for the 17th year by Amusements Today, the leading industry news source. With more than half of our parks now offering a free pre-K season pass for children, our continued showcasing of the beloved Peanuts characters underscores our commitment to entertaining young families."

The company recently announced the debut of an expanded Peanuts themed children's area at Carowinds, its popular park in Charlotte, N.C. The Camp Snoopy area will feature five new rides, an 8,000 square foot climb-and-play area called 'Beagle Scout Acres,' and enhanced dining and relaxation facilities. Parks throughout the portfolio offer value-added attractions featuring the Peanuts such as character breakfasts, seasonal events like The Great Pumpkin Fest, and other themed entertainment year-round. The Peanuts characters were first featured at Knott's Berry Farm, acquired by Cedar Fair in 1997; in 2014, the Southern California park unveiled a newly expanded and revitalized Camp Snoopy children's area in celebration of the 30-year relationship.

"Cedar Fair has been a long-standing and cherished partner to Peanuts, dating back many years to when Camp Snoopy first opened at Knott's Berry Farm in 1983," said Craig Schulz, son of Charles M. Schulz and President and CEO of Charles M. Schulz Creative Associates. "On behalf of my entire family, I look forward to many more years of bringing the joy of my father's characters to the fans in Cedar Fair's parks."

"On the heels of our recent acquisition of the Peanuts brand further cementing our relationship with Cedar Fair assures an extensive and continued North American presence in the amusement park area," stated Dana Landry, Chief Executive Officer of DHX Media. "This agreement extension speaks to the enduring appeal of the Peanuts brand, and as a leader in children's content and brands, we value the opportunity to work with Cedar Fair to reach an all-family audience for Charlie Brown, Snoopy and the rest of the Peanuts gang."

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