For immediate release:
November 7, 2019
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Berry Family, Arctaris Impact Fund Reach Agreement forSale of Saddleback
The deal would reopen one of Maine’s largest ski areas, which has been closed since 2015
RANGELEY—The Berry Family, owners of Saddleback Mountain, have reached an agreement with Arctaris Impact Fund of Boston for the purchase and sale of Saddleback, Inc. and Saddleback Land and Timber Corp.
The Berry family has owned Saddleback since 2003 and invested more than $40 million in improvements to expand and upgrade the ski resort. In 2014-2015 when the Berrys determined that major capital expenditures were necessary for the continued operation of the mountain, they decided to look for a buyer who had the resources and vision to continue the revitalization that the family started.
Arctaris first expressed an interest in the property in 2018. This week, they have finalized an agreement with the Berry Family to purchase and reopen the mountain. “This beautiful mountain has so much potential and it looks like the Buyer has a strong plan moving forward. We are excited for the acquisition to be complete for the Saddleback Resort community and the entire Rangeley area” said Dawn Klein of Lakehome Group, real estate broker for the Berry Family.
With an elevation of 4,120 feet, Saddleback is one of the largest mountains in Maine. It offers 2,000 vertical feet of skiing and some of the toughest expert terrain in the East. In the twelve years the Berrys operated the mountain, annual skier visits increased from 15,000 to more than 110,000.