North Peak Purchases Mad River Mountain

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Eureka, MO, Dec. 28, 2000 (SAM Magazine)--Tim Boyd, president of PeakResorts and a principal of the newly formed North Peak, Inc., announced today the new company had closed a deal yesterday to buy Mad River Mountain, Ohio. Though Boyd would not say how much North Peak paid for the ski area, he did note it was the new company's "first of many acquisitions."

North Peak, of which Peak Resorts is part owner, has been operating Mad River for the past year for former owner Nationwide Insurance Company and has already spent $2 million at the mountain, primarily in replacing its snowmaking system and building a detachable quad that opened last winter.

"Mad River is in a great market (Columbus, Ohio) and gives us theopportunity to work on future development plans." Though he said it was tooearly to get into the details of the plans for Mad River, Boyd didacknowledge that the area's total land was on the order of 400-plus acresand that skiing currently exists on "roughly 100" of that.