Peak Resorts to Buy Hunter Mountain Ski Resort
November 30 2015 - 5:30PM
Dow Jones News
Peak Resorts Inc. said it will buy Catskills ski resort Hunter
Mountain in a deal valued at $36.8 million, the company said
Monday.
The deal, expected to close by the end of the year, adds to Peak
Resorts' portfolio of properties for overnight and day-drive
visitors. Peak said it would pay $35 million in cash and assume two
capital leases estimated at about $1.8 million.
The Missouri company expects the acquisition to add to a measure
of adjusted profit by the third quarter of fiscal 2016.
Hunter Mountain has a summit elevation of 3,200 feet with a
vertical drop of 1,600 feet. It has 240 skiable acres with 58
trails and 12 lifts.
Shares, which fell by a penny to $7.30 on Monday, were inactive
after hours.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 30, 2015 17:15 ET (22:15 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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