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Alterra - Sugarbush Acquisition
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Updated 8 months ago
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8 months ago

I received an email from Owner/Pres Win Smith anouncing the sale to Alterra.  Sale is expected to close Jan 2020.

marzNC - DCSki Supporter
8 months ago

The full text of Win Smith open letter to everyone about the pending sale was put on the Sugarbush website today, 11/13/19.

https://www.sugarbush.com/blog/wins-word/changing-but-not-saying-goodbye/

“For me, today is a bit like walking my daughter down the aisle at her wedding.  I have tears in my eyes and a lump in my throat knowing that I am about to give away someone I have raised and loved. Looking down the aisle, however, I am delighted to see someone waiting who will also love, respect, and care for her as I have done. While things will not be the same, I am excited about this next stage of our lives.  And, I am comforted knowing that we are not saying goodbye!

Today Summit Ventures NE LLC is announcing that it has agreed to sell the majority of its Sugarbush assets to Alterra Mountain Company. They currently own 14 very special destinations in North America and partner with an additional 27 around the world on their Ikon Pass. The transaction is expected to close in early January 2020 subject to regulatory approvals.

I have been asked to remain as president for as long as I wish in order to facilitate a smooth transition, to maintain our commitment to our guests and to the entire Sugarbush community, and to prepare the next generation of leaders to succeed me when I decide to move on to a third career. More importantly, Alterra Mountain Company wants our entire Sugarbush team to remain in place. They are buying a place they believe is working well and do not have plans to change our mission, our values, our brand, our culture, or our team. They recognize our commitment to the Mad River Valley community and want that to continue as well.

…”

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