Mont Sutton Changes Hands after 56 Years

Sale of Mont Sutton announced today.

Woody

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  • TomWhiteTomWhite advanced
    Posts: 426

    Here's the Ski Area Management article.

    Sutton Shareholders Approve Ryan
    Group Purchase Offer (Updated)



    03/08/2016




    SAM Magazine—Sutton, Que., March 9, 2016—The sale and purchase of Mont Sutton
    Ski Area is now complete. Today, the Superior court has confirmed the
    acquisition of Ski Sutton Inc. by Jean-Michel Ryan, Pierre Chesnay and Sylvain
    Gervais for C$7.5 million. This amount includes the purchase of all Ski Sutton
    Inc. shares, the debt and other entities related to the Boulanger family.



    During a Ski Sutton Inc. shareholders meeting Tuesday, 97 percent of those in
    attendance voted to approve an offer by a group of local investors to purchase
    the company, which includes Mont Sutton Ski Area.



    The ski area was founded by the Boulanger family in 1960, and they have been
    majority stakeholders ever since. “[We] appreciate the confidence and trust
    marked from the Boulanger family and from all the shareholders, who have
    recognized the quality of our offer and accepted it. We would like to thank all
    of those who supported us throughout the process,” Ryan said.



    “Since we concluded the agreement with Ryan’s group on Jan. 26, 2016, we never
    stopped believing that this offer is the best for the future and the
    development of the mountain,” said Hercule Boulanger. “The offer meets all of
    our wishes for the mountain. It respects the community, the employees, the shareholders,
    and the customers of Mont Sutton. We are happy to leave the mountain to this
    group.”




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