by Mammoth Resorts
Launching new joint pass
product, Cali4nia Pass to offer unrestricted access to all four California
mountains -- Mammoth Mountain Ski Area, Bear Mountain, June Mountain and Snow
Summit Mountain Resort
MAMMOTH LAKES, CA September
24, 2014 Mammoth Mountain Ski Area, owner of Mammoth Mountain and June Mountain,
announced today that it has entered into an agreement to acquire Big Bear
Mountain Resorts in Big Bear Lake, California. Big Bear Mountain Resorts
includes both Bear Mountain and Snow Summit, the largest and most popular of
southern California’s ski and snowboard resorts that host nearly 800,000 winter
The combination of these four iconic California mountain resorts
creates diverse and unique offerings of both summer and winter experiences for
day trips, weekend getaways and extended vacations. Bear Mountain and Snow
Summit, located a short drive from everywhere in southern California, with
their full complement of outdoor activities from action sports to first-time family
experiences, provide an excellent fit with the world class, big-mountain
destination experience offered at Mammoth.
couldn’t be more excited to enter into this agreement with Big Bear Mountain
Resorts. These two uniquely southern California resorts have been providing
great skiing, riding and biking experiences to visitors from California and
beyond. Millions have enjoyed their first mountain resort experience on the
slopes of Bear Mountain and Snow Summit, and we look forward to expanding upon
the legacy that Dick Kun and his people have created over the past six
decades,” said Rusty Gregory, Chairman
and CEO of Mammoth Mountain.
acquisition represents the beginning of a renaissance for both Mammoth and Big
Bear and is the first step in the next era of skiing and riding in California.
In the coming months we will be announcing exciting new development and
expansion plans for each of our four resorts designed to attract visitors from
down the street, across the country, and around the world,” added
To celebrate the occasion, Mammoth has announced a new season
pass that includes unrestricted access to all four mountains at the discounted
rate of $689 for adults. The new Cali4nia
Pass will go on sale at the Hot Dawgz and Hand Rails event at Bear Mountain
this Saturday, September 27 and will then be available online for a
limited time only at www.snowsummit.com or www.Cali4niaPass.com.
“The Cali4nia Pass will cut through the clutter in the market by
providing the most diverse set of resort options available in California by
allowing you to ski where you want, when you want and as often as you want,”
This transaction will create one of the nation’s largest ski
companies with over 2 million visitors per year. Dick Kun, the driving force behind skiing and riding in the Big
Bear region and long-time CEO of Big
Bear Mountain Resorts commented, “Mammoth has always been the natural
long-term fit for the Big Bear family and we are thrilled to enter this
agreement. I am deeply grateful to the employees, shareholders, and the Big
Bear community for their work and support during the 63 years of our
operations. Mammoth’s experience and leadership will ensure that southern
Californians will continue to enjoy recreating in the local mountains and will
undoubtedly bring in a new era of experiences and opportunities for all of our
constituents,” continued Kun.
Lokey served as exclusive financial advisor to Big Bear Mountain
Resorts and assisted in initiating, structuring and negotiating the transaction
on its behalf.
Closing is subject to certain conditions, including Big Bear
Mountain Resort shareholder approval and transfer of the U.S. Forest Service
Permit that permits operations on nearly 1,500 acres of the San Bernardino
Mammoth Mountain Ski Area is the leading four-season mountain resort in
California. With 1.3-1.5 million annual skier visits, Mammoth Mountain is the
third most frequented ski resort in the United States. With longstanding
commitment to athletic excellence and innovative alpine, freestyle and nordic
terrain, Mammoth is proud to be an official USSA training facility. The company
owns and operates a variety of resort businesses including recreation,
hospitality, real estate development, food and beverage and retail. Specific
businesses owned and operated by Mammoth Mountain include Mammoth Mountain Ski
Area, June Mountain, Tamarack Lodge and Resort, Mammoth Snowmobile Adventures,
Mammoth Mountain Bike Park and the Mammoth Mountain Inn. Mammoth Mountain also operates
Juniper Springs Resort, the Village Lodge and Sierra Star Golf Course in
Mammoth Lakes, California.
more information on Mammoth Mountain, visit MammothMountain.com or
About BBMR - Real Snow…. Real
Close…. Real Deal!
Bear Mountain Resorts (BBMR) includes Snow Summit and Bear Mountain, plus Bear
Mountain Golf Course and Snow Summit Summer. Together, BBMR has the region’s
most progressive terrain parks, most dependable snow conditions, the largest
full-service learning programs and a multitude of premier services – just a
tank of gas away round-trip from most areas in Southern California.
more information, please visit www.bigbearmountainresorts.com. BBMR
is an equal opportunity service provider operating under a San Bernardino
National Forest special use permit.