Alterra Mountain Company To Acquire Sugarbush. Expands The Company’s Family Of Destinations To 15

Alterra Mountain Company announces that it has entered into an agreement to purchase Sugarbush Resort in Vermont, which will bring the company’s total to 15 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation.

Located in the beautiful Mad River Valley of Vermont, Sugarbush is a four-season resort. Founded in 1958, Sugarbush is known for its varied terrain which extends over 4,000 acres. Skiing and riding occurs on 111 trails and 28 wooded areas. Sugarbush’s vertical is 2,600 feet and averages 250 inches of snow each year. In the summer season, Sugarbush is a wedding and conference destination and features activities such as lift accessed mountain biking, disc golf, children’s summer camps, hiking and tennis. It also has an 18-hole Robert Trent Jones golf course.

“Sugarbush Resort is a premier East Coast mountain destination and we are excited to expand the Alterra Mountain Company family in the Northeast, with Sugarbush joining Stratton in Vermont,” said Rusty Gregory, Chief Executive Officer, Alterra Mountain Company. “Sugarbush has been a partner on the Ikon Pass since its inception and we look forward to the opportunities ahead.”

Win Smith will stay on as President and COO of Sugarbush Resort and will oversee daily operations of the destination and future capital improvement plans.

“Having been a family-owned resort for nearly two decades, we were keen to find the right next owner of Sugarbush Resort. We are delighted that Sugarbush will join the Alterra Mountain Company family, knowing that Alterra Mountain Company will continue to maintain our culture, values and commitment to our community, while bringing additional capital and other resources to make Sugarbush even better in the years ahead,” said Win Smith, CEO of Summit Ventures NE, LLC.

Since 2001 Sugarbush has invested $74 million in mountain improvements including seven new lifts, significant upgrades to its snowmaking system, and the revitalization of the Lincoln Peak Base area, complete with the Clay Brook Hotel and Residences and the Gate House Lodge, two skier services buildings, the Farmhouse and Schoolhouse, and new slopeside residences.

Sugarbush Resort Ikon Pass access will remain the same for winter 2019/2020, with 7-day access on the Ikon Pass and 5-days access with blackouts on the Ikon Base Pass.

The transaction is expected to close in the first quarter of 2020, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed.

Alterra Mountain Company’s destinations offer premium ski, snowboard and all-season activities for those who seek adventure, freedom, and fun in the great outdoors. Alterra Mountain Company mountain destinations are spread throughout six states and three Canadian provinces: Steamboat and Winter Park Resort in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Stratton in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Crystal Mountain in Washington; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Alterra Mountain Company was created when affiliates of KSL Capital Partners, owners of Squaw Valley Alpine Meadows, and affiliates of Henry Crown and Company purchased Intrawest, Mammoth Resorts, Deer Valley Resort in 2017, plus Solitude Mountain Resort and Crystal Mountain in 2018.