Snow Business: ​Alterra Purchasing Sugarbush

Alterra Mountain Company on Wednesday announced it has entered into an agreement to purchase Sugarbush Resort in Vermont, a popular destination with Connecticut skiers and snowboarders.

The acquisition brings the company’s total to 15 year-round mountain destinations throughout North America.

Founded in 1958, Sugarbush Resort is a year-round mountain destination located in the Mad River Valley of Vermont with two distinct mountains — Mt. Ellen and Lincoln Peak. They are joined by a 2-mile high-speed quad chair.

Sugarbush also has a health and recreation club, multiple lodging properties, and the Sugarbush Resort Golf Club with an 18-hole Robert Trent Jones Sr.-designed course. It is also a popular destination for weddings and conferences.

"Sugarbush Resort is a premier East Coast mountain destination and we are excited to expand the Alterra Mountain Company family in the Northeast, with Sugarbush joining Stratton in Vermont," said Rusty Gregory, Chief Executive Officer, Alterra Mountain Company. "Sugarbush has been a partner on the Ikon Pass since its inception and we look forward to the opportunities ahead."

The popular Win Smith will stay on as President and COO of Sugarbush Resort and will oversee daily operations of the destination and future capital improvement plans.

Since 2001, Sugarbush has invested $74 million in mountain improvements, including seven new lifts, upgrades to its snowmaking system, and the revitalization of the Lincoln Peak Base area, complete with the Clay Brook Hotel and Residences and the Gate House Lodge, two skier services buildings, the Farmhouse and Schoolhouse, and new slopeside residences.

The Sugarbush Resort Ikon Pass access will remain the same for winter 2019/2020, with 7-day access on the Ikon Pass and 5-days access with blackouts on the Ikon Base Pass.

The transaction is expected to close in the first quarter of 2020, and is subject to certain closing conditions, including regulatory approvals.

Terms of the transaction were not disclosed.

More details will be released once the transaction has closed, officials said.

Alterra Mountain Company mountain destinations are spread throughout six states and three Canadian provinces. Holdings include:

• Steamboat and Winter Park Resort in Colorado
• Squaw Valley, Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California
• Stratton in Vermont
• Snowshoe in West Virginia
• Tremblant in Quebec
• Blue Mountain in Ontario
• Crystal Mountain in Washington
• Deer Valley Resort and Solitude Mountain Resort in Utah
• CMH Heli-Skiing & Summer Adventures in British Columbia

Alterra Mountain Company was created when affiliates of KSL Capital Partners, owners of Squaw Valley Alpine Meadows, and affiliates of Henry Crown and Company purchased Intrawest, Mammoth Resorts, Deer Valley Resort in 2017, plus Solitude Mountain Resort and Crystal Mountain in 2018.

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Chris Dehnel is a Patch editor who has been writing about skiing and snowboarding since 1999. He is former president of the Eastern Ski Writers Association.