Big Bear, CA, June 20, 2013 - According to a press release on behalf of the Snow Summit Ski Corporation, the company’s Board of Directors have retained the investment banking firm of Houlihan Lokey to market the corporation that owns and operates Snow Summit and Bear Mountain with the possibility of selling it to one of a number of interested buyers. Houlihan Lokey will contact various potential buyers both within and beyond the ski resort industry informing them of the Snow Summit Ski Corporation’s attractiveness as an acquisition as the leading ski resort company in Southern California with average annual skier visits of a little over 700,000. Last year, Snow Summit celebrated it’s 60th Anniversary. The Snow Summit Board anticipates that, if an offer of sufficient merit is received, it will be presented to all the shareholders for a vote of approval or rejection. This process is likely to take several months, if not longer, and a sale will not necessarily occur. Dick 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.” Snow Summit and Bear Mountain have been described as the largest economic engine of the region and one of it’s largest part time and full time employers.
Snow Summit Corporation Up For Sale
Posted on 06/20/2013 Written by