One of Vermont’s most loved resorts, family owned Sugarbush, is to be acquired by Alterra Mountain Company who announced today that they have entered into an agreement to purchase the resort in Vermont.
This will bring the company’s total to 15 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation, CMH in Canada.
Sugarbush is a year round resort founded in 1958 in the Mad River Valley with Mt Ellen and Lincoln Peak connected by a high speed quad chair. The resort also has a fully appointed health and recreation club, multiple lodging properties, and the Sugarbush Resort Golf Club with an 18-hole Robert Trent Jones Sr.-designed golf course. I
“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” said Win Smith, CEO of Summit Ventures NE, LLC.
“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,”
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-day 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.