A Colorado resorts company has acquired several Ohio ski properties in a broad acquisition, including Mad River Mountain.
Vail Resorts Inc. announced Monday that the company has entered into a definitive merger agreement to acquire 100 percent of the outstanding stock of Peak Resorts Inc. Vail (NYSE: MTN) will acquire all Peak (NASDAQ: SKIS) stock at $11 per share.
Through that acquisition, Vail Resorts will add 17 U.S. ski areas to its portfolio of properties, including Mad River Mountain in Zanesfield, about an hour’s drive north of Dayton near Bellfontaine.
The company also acquired three other Ohio resorts: Alpine Valley in Chesterland, as well as Boston Mills and Brandywine resorts in Peninsula.
Other acquired properties include: Mount Snow in Vermont; Hunter Mountain in New York; Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire; Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania; Paoli Peaks in Indiana and others.
“With this move, Vail Resorts complements its existing portfolio of resorts to provide an even more compelling offer for skiers in the Northeast,” the company said in an email. “The acquisition fully embodies the brand’s philosophy of ‘epic for everyone,’ making skiing and riding more accessible to guests across the U.S. and around the world.”
When the transaction closes, the 2019-20 company epic, epic local and military epic passes will include access to the 17 Peak Resorts ski areas. For the 2019-20 season, Vail Resorts will honor Peak Resorts pass products, Vail also said.
Via release, Timothy Boyd, president and chief executive of Peak Resorts, said, “Vail Resorts has a proven track record of celebrating the unique identity of its resorts, while continually investing in the guest and employee experience. For this reason, we are confident that our resorts and employees will continue to thrive within the Vail Resorts network.”