It’s official, Cardrona Alpine Resort is undertaking due diligence to purchase Treble Cone Ski Area.
The rumours have been doing the rounds for well over a year and our in-house contacts at Cardrona Alpine Resort confirmed they are true this afternoon.
“We are absolutely stoked to look at the opportunity to join the Wanaka whanau and to work closely together to create the best possible experience for people skiing and riding in Aotearoa,” said Cardrona General Manager Bridget Legnavsky to SnowsBest today.
A conditional agreement was signed yesterday on June 17 for Cardrona to purchase Treble Cone Ski Area and the sale is obviously based on the results of due diligence. It is expected the process will take around three months before Cardrona will make a definitive decision to purchase.
Cardrona would then make an offer to Treble Cone and their shareholders will then have to accept for the sale to proceed.
Interestingly John Darby is Treble Cone’s major shareholder and also the owner of Soho Basin which announced a partnership with Cardrona last year for the resort to take over the Soho Basin land and become the largest ski resort in New Zealand.
The sale would be hot off the heels of Treble Cone’s tumultuous 18 months with staff walk outs, a questionable logo change that saw the branding revert to its original style followed by exciting new recruits, then a revamped season pass offering that divided the locals despite its business reasoning.
Watch this space as we bring you updated news on the proposed sale of Treble Cone to Cardrona Alpine Resort. It’s exciting times for New Zealand skiers and boarders, TC, Wanaka and the progression of Cardrona.