Resort will open this winter
Bear Valley Mountain will be open this winter. The only question that remains – who will be running it?
Dundee Realty U.S.A., which acquired the resort in 2005, has been in ongoing talks with a potential owners group, and those talks are progressing.
“We do have a purchasing and sales agreement signed,” confirmed Greg Finch, president of Dundee Resort Development and managing member of the current ownership group. “The buyer now has a certain period of time to review everything, and we’re in that due diligence period now.”
Finch anticipates the sale’s status should be determined in “30 to 60 days from now, but it could be shorter.”
“They’re very aware that if they’re going to do this, the quicker the better,” Finch continued. “We’re running out of summer.”
Due to a public disclosure agreement with the potential buyers, Finch was unable to provide many details about the group, but he did want to curb the rumor mill.
“One thing I will tell you – it is not Disney,” he said. “It’s a small group and includes some local interests and some guys who have been in the ski business.”
Those other ski resorts include “more than one … and real places – names you would know,” Finch said.”
The potential buyers met with Finch last week on location in Bear Valley as part of the ongoing negotiation process, and a few locals noticed their presence.
“(Finch) was here in Bear Valley yesterday (Thursday), and members of both sides of the equation (were) on-site, meeting with each other,” said Paul Petersen, owner of Bear Valley Cross Country and Adventure Company. “It’s like any deal; they can fall out at the last minute, but, right now, it’s proceeding along the lines of what these things require, which is time for the buyer to do their due diligence.”
Finch is optimistic about the deal, but he also knows the reality of business deals. So the current owners group is still “operating exactly as if it’s not going to be sold,” he said.
Regardless of the current deal, he guaranteed Bear Valley would be open for business this winter. And if it is under new ownership, Finch is confident it will be positive for Calaveras.
“I think the community will be happy with the buyer.”
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