Vail Resorts will acquire Crested Butte Mountain Resort and three other ski locations, the company announced Monday.
The larger of two deals set to close this summer consists of the company purchasing Triple Peaks LLC from the Mueller family for $82 million.
Triple Peaks operates Crested Butte Mountain Resort along with the Okemo Mountain Resort in Vermont and Mount Sunapee Resort in New Hampshire.
The Muellers bought Okemo Mountain Resort in their home state of Vermont in 1982, then went on to acquire New Hampshire’s Mount Sunapee Resort in 1998 before acquiring Crested Butte Mountain Resort in 2004.
About 400,000 people visit Crested Butte every year, enjoying a healthy 300 inches of annual snowfall over the resort’s 1,500 skiable acres.
“We know our guests and employees will benefit from Vail Resorts’ outstanding track record of resort and community investment, environmental stewardship, and employee development,” said Tim Mueller, president of Triple Peaks. “We care deeply about the legacy of these resorts and have absolute confidence in Vail Resorts to celebrate what makes them so special, while also providing long-term stability for the communities.”
Vail Resorts will also acquire Stevens Pass Resort in Washington in a second transaction.
Vail Resorts plans to invest a $35 million across the four resorts over the next two years, a spokesperson said Monday.
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