Apollo Management LP, a private exchange which is operated by Goldman Sachs Group, is soon to acquire an Ohio theme-park company, Cedar Fair Entertainment Co. This is the first large buyout for the company since two years. The deal would be of about $650 million which would be paid in cash, and $1.7 billion of debt.

Cedar Fair Entertainment Co. owns and operates 11 amusement parks in U. S. and Canada, including Kings Island in Cincinnati and Knott's Berry Farm in Los Angeles, six outdoor water parks, one indoor water park and five hotels.

The shareholders of the Sandusky, Ohio-based company would receive $11.50 in cash for each Cedar Fair Limited Partnership unit they hold, the company said.

Like many other companies who are dependent over consumer spending, Cedar also has suffered many setbacks in sales, as the company reported the sales of $929 million down from $992 million. The company also confirmed that its third quarter revenue fell 4 percent to $519.9 million.