Vail Resorts (MTN +1.7%) announces a series of new acquisitions.
The ski resort operator says it will buy the parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire and Crested Butte Mountain Resort in Colorado.
In a separate transaction, Vail will acquire Stevens Pass Resort in Washington State.
The company says it will invest $35M in total capital across the four resorts over the next two years.
CEO update: "Together, the acquisitions of Okemo, Mount Sunapee, Crested Butte, and Stevens Pass will significantly enhance the Vail Resorts' network of resort experiences, adding even more variety and choice for all of our pass holders and guests. Okemo and Mount Sunapee are terrific complements to Stowe in the Northeast, as is Crested Butte to our four Colorado resorts, and Stevens Pass for our Whistler Blackcomband Seattle guests."
Source: Press Release
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