Alterra Mountain Company in Denver says it has entered an agreement to buy Sugarbush Resort in Vermont.
The purchase would increase Alterra Mountain’s total year-round mountain destinations to 15 in six states and three Canadian provinces.
Alterra’s chief executive officer said Wednesday that it’s excited to expand in the Northeast. It also owns Stratton Mountain in Vermont. Sugarbush was already a limited-access part of the company's Ikon ski pass.
Sugarbush president Win Smith will remain in that role and will oversee daily operations and plans for future capital improvements.
"Having been a family-owned resort for nearly two decades, we were keen to find the right next owner of Sugarbush Resort," Smith said in a statement. He added that Alterra "will continue to maintain our culture, values and commitment to our community" in addition to the planned investments.
Officials say the sale is expected to close in the first quarter of 2020.
Terms of the transaction have not been disclosed.
Among the Alterra Resorts are Steamboat and Winter Park in Colorado; Tremblant in Quebec; and Deer Valley Resort and Solitude Mountain Resort in Utah.
You are one of the CPR readers who wants to know what is really going on these days. We can help you keep up - The Lookout is a free, daily email newsletter with news and happenings from all over Colorado. Sign up here and we will see you in the morning!