$264 million transacation
Vail Resorts Inc. is acquiring Peak Resorts Inc., the owner of 17 U.S. ski areas — including Paoli Peaks in Orange County, Indiana
Broomfield, Colorado-based Vail Resorts will purchase Wildwood, Missouri-based Peak for $11 per share, or an estimated $264 million. The transaction is expected to close this fall.
Paoli Peaks a 80-acre ski resort employs more than 150 people per year and brings in anywhere between 2,000 and 3,000 visitors on any given weekend.
Vail Resorts said it plans to retain the “vast majority” of each resort’s employees.
Vail said it plans to spend approximately $15 million to improve the new properties over the next two years.
The other newly acquired resorts are located in Missouri, New Hampshire, New York, Ohio, Pennsylvania and Vermont.
FIRE GUTS HISTORIC CHRUCH DOWNTOWN
Averitt To Invest up to $113 Million To Build Regional Campus in Bullitt County
Displate Manufacturing To Establish First Kentucky Operation in Louisville With $9.5 Million Investment, Creating 79 Jobs
