PENINSULA, Ohio– Vail Resorts agreed to purchase Peak Resorts and its 17 ski locations as part of a $264 million acquisition, the companies announced on Monday. That includes Boston Mills, Brandywine and Alpine Valley in Northeast Ohio, as well as Mad River Mountain in Zanesville.
The buyout is expected to be finalized this fall and all Peak Resorts will continue normal operations during the season, the news release said. Vail Resorts said it plans to keep a majority of each ski resort’s employees.
“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, in a news release.
“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.”
Vail Resorts already owns 17 mountain resorts, three urban ski areas and several hotels.