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Six Flags announced Thursday morning that it sold Shakopee-based amusement park Valleyfair to ERP Properties, an investment trust that specializes in what it calls “experiential” real estate.  

The amusement park is among seven parks across the U.S. and Canada coming under new ownership with ERP Properties in a $331 million deal. 

Valleyfair was first opened in 1976 by two local businessmen and was owned and operated by Cedar Fair for decades.  

The Six Flags brand merged with the amusement park in 2024, but now the brand says it’s selling Valleyfair, and six others, to simplify its portfolio and strengthen its finances.  

“We know how much these parks mean to our guests and to the incredible teams who bring them to life every day. Decisions like this are never taken lightly. We’re confident the parks will be in good hands with EPR and its partners, who have strong experience operating parks of this quality and scale,” Six Flags President and CEO John Reilly said 

ERP Properties will maintain the rights to the Six Flags brand through the end of the year. 

Six Flags said no significant impact on guests is expected during this transition of ownership. The park will continue to operate normally, and all season passes will be honored through the 2026 operating season.  

Valleyfair is anticipated to begin its 50th anniversary season on May 10. 

Chandra Colvin covers Native American communities in Minnesota for MPR News via 

, a national service program that places journalists into local newsrooms to report on undercovered issues and communities.

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Six Flags announced Valleyfair in Shakopee has been sold to ERP Properties, an investment trust that specializes in what it calls "experiential" real estate. Leadership said the amusement park will continue to operate normally through the 2026 season.

Six Flags sells Valleyfair and 6 other amusement parks to new owner in $331 million deal

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