SAM Magazine—Charlemont, Mass., March 23, 2026—Berkshire East and Catamount Resorts in Massachusetts have joined Bear Den Partners, formalizing an ownership transition that brings the Schaefer family’s two ski areas into a growing portfolio alongside Vermont’s Burke Mountain and Smugglers’ Notch.

The move folds Berkshire East and Catamount into the ownership structure of Bear Den, an investment vehicle led by the Ken Graham family, while keeping the Schaefer family actively involved. Brothers Jim and Jon Schaefer, longtime owners of the two mountains, have merged their equity into the new venture. Jon Schaefer will continue to lead operations as the CEO of Bear Den; Jim Schaefer sits on its board.

“This step represents an evolution for my family, not an exit,” Jon Schaefer said in a statement. “This merger is about securing the future of two great, independent mountains by building an enduring structure that allows them to thrive for generations to come.”

The deal also introduces the Bear Den Mountain Alliance, an operating framework that links the four ski areas through shared resources, capital access, and operational expertise, while maintaining independent branding and local leadership at each mountain.

The goal, Schaefer told SAM, is “to ally different mountains together under the framework of a single ownership group while keeping them emotionally separate.” The ski areas will collaborate on back-end functions such as purchasing, capital planning, and best practices, while continuing to operate independently on the front end. 

“There’s a big difference between building scale and losing your soul,” said Schaefer. “Our goal with the Bear Den Alliance is simple: preserve what makes [these resorts] special while strengthening the shared systems that help independent mountains stay resilient for the long haul.”

For guests, the structure is expected to bring expanded reciprocal benefits across the four mountains, though Schaefer said the alliance will take a measured approach to any broader pass integration to avoid overcrowding.

On the back end, capital investments are already underway at Burke, while a capital plan for Smuggs’, of which Bear Den acquired a majority stake in February, is in development. “We'll do a little bit of a listening tour and planning tour this summer to figure out where we’ll go there over the coming years,” said Schaefer.

Berkshire East and Catamount have both just completed major capital cycles, although there are optimizations that will continue to happen at both mountain, Schaefer said. Both will continue to operate under their existing leadership, including Berkshire East GM Andy Cornish, Catamount GM Mark Smith, and CFO Melissa Roberts.

“From the beginning, Jim, Jon and I shared a belief that great independent mountains can be stronger together without losing what makes them special,” said Bear Den co-founder Ken Graham. “Bear Den is about bringing together iconic New England ski resorts and giving them the support they need to thrive—while keeping the local character and independent spirit that skiers feel the minute they pull into the parking lot.”