And the acquisitions go on....
Here's the scoop:
BROOMFIELD, Colo., July 22, 2019 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today announced it has entered into a definitive merger agreement to acquire 100 percent of the outstanding stock of Peak Resorts, Inc. (NASDAQ: SKIS) at a purchase price of $11.00 per share, subject to certain conditions, including regulatory review and Peak Resorts' shareholder approval.
Photo Credit: Brett Miller, Peak Resorts, Mount Snow
Photo Credit: Brett Miller, Peak Resorts, Mount Snow
Through the acquisition, Vail Resorts will add 17 U.S. ski areas to its network of world-class resorts. Located near major metropolitan areas, including New York, Boston, Washington, D.C., Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas City and Louisville, the resorts include:
Mount Snow in Vermont
Hunter Mountain in New York
Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire
Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania
Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio
Hidden Valley and Snow Creek in Missouri
Paoli Peaks in Indiana
"We are incredibly excited to have the opportunity to add such a powerful network of ski areas to our Company," said Rob Katz, chairman and chief executive officer of Vail Resorts. "Peak Resorts' ski areas in the Northeast are a perfect complement to our existing resorts and together will provide a very compelling offering to our guests in New York and Boston. With this acquisition, we are also able to make a much stronger connection to guests in critical cities in the Mid-Atlantic and Midwest and build on the success we have already seen with our strategy in Chicago, Minneapolis and Detroit. The acquisition fully embodies our philosophy of Epic for Everyone, making skiing and riding more accessible to guests across the U.S. and around the world."
"The ski areas within the Peak Resorts portfolio exemplify the spirit of our sport as well as our Company's mission to provide an Experience of a Lifetime to guests," Katz continued. "We're thrilled to welcome the resorts and their employees into the Vail Resorts family and invest in their continued success."
"Vail Resorts has a proven track record of celebrating the unique identity of its resorts, while continually investing in the guest and employee experience. For this reason, we are confident that our resorts and employees will continue to thrive within the Vail Resorts network," said Timothy Boyd, president and chief executive officer of Peak Resorts. "We are very proud of our track record over the last two decades in building the breadth, quality and accessibility of our resorts. We are thrilled that our guests will now have access to some of the world's most renowned resorts."
Here's the scoop:
BROOMFIELD, Colo., July 22, 2019 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today announced it has entered into a definitive merger agreement to acquire 100 percent of the outstanding stock of Peak Resorts, Inc. (NASDAQ: SKIS) at a purchase price of $11.00 per share, subject to certain conditions, including regulatory review and Peak Resorts' shareholder approval.
Photo Credit: Brett Miller, Peak Resorts, Mount Snow
Photo Credit: Brett Miller, Peak Resorts, Mount Snow
Through the acquisition, Vail Resorts will add 17 U.S. ski areas to its network of world-class resorts. Located near major metropolitan areas, including New York, Boston, Washington, D.C., Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas City and Louisville, the resorts include:
Mount Snow in Vermont
Hunter Mountain in New York
Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire
Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania
Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio
Hidden Valley and Snow Creek in Missouri
Paoli Peaks in Indiana
"We are incredibly excited to have the opportunity to add such a powerful network of ski areas to our Company," said Rob Katz, chairman and chief executive officer of Vail Resorts. "Peak Resorts' ski areas in the Northeast are a perfect complement to our existing resorts and together will provide a very compelling offering to our guests in New York and Boston. With this acquisition, we are also able to make a much stronger connection to guests in critical cities in the Mid-Atlantic and Midwest and build on the success we have already seen with our strategy in Chicago, Minneapolis and Detroit. The acquisition fully embodies our philosophy of Epic for Everyone, making skiing and riding more accessible to guests across the U.S. and around the world."
"The ski areas within the Peak Resorts portfolio exemplify the spirit of our sport as well as our Company's mission to provide an Experience of a Lifetime to guests," Katz continued. "We're thrilled to welcome the resorts and their employees into the Vail Resorts family and invest in their continued success."
"Vail Resorts has a proven track record of celebrating the unique identity of its resorts, while continually investing in the guest and employee experience. For this reason, we are confident that our resorts and employees will continue to thrive within the Vail Resorts network," said Timothy Boyd, president and chief executive officer of Peak Resorts. "We are very proud of our track record over the last two decades in building the breadth, quality and accessibility of our resorts. We are thrilled that our guests will now have access to some of the world's most renowned resorts."