Snow Summit Explores Possible Sale

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Publish Date

06/20/2013

SAM Magazine—Big Bear Lake, Calif., June 20, 2013—The Snow Summit Ski Corporation board of directors has retained Houlihan Lokey (HL), an international investment banking firm, to market the company, with the possibility of selling it to one of a number of interested buyers. HL will be contacting various potential buyers as part of this process.

The corporation owns and operates both Snow Summit and Bear Mountain, which average more than 700,000 visits annually.

The process is likely to take several months, if not longer, and a sale may not occur.

Richard Kun, president and CEO of the company, stated, “Confidentiality is a necessary part of this process, so, at least for now, Snow Summit management and directors will not be able to answer questions that go beyond what has been stated in this release. Thank you for your understanding.”


Comments

Ski Resort Sales and Bankruptcy

Three U.S. ski resorts were sold in chapter 11 cases in the last lear - Wisp, Greek Peak and Sno Mountain. On the heels of the failed bankruptcy case of Tamarack, it appears that the acquisition the market is improving. http://www.ski-and-sports-bankruptcy.com/

West Mountain

And now West Mountain in NY is joining the "we need to be bought" parade as well... http://www.timesunion.com/business/article/West-Mountain-ski-area-seeks-bankruptcy-protection-4614441.php

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