Vail Resorts and Peak Resorts

New Hampshire’s Attitash, Wildcat and Crotched Mountain ski areas, as well as Mount Snow in Vermont (seen here), are the four Peak Resorts properties in New England being purchased by Vail Resorts of Colorado.

When three New Hampshire ski resorts were sold to a Colorado company on Tuesday, the Sackler family — of opioid maker Purdue Pharma Inc.— likely took in more than $110 million.

A branch of the Sackler family owned 54% of the shares in Peak Resorts, the company that until Tuesday owned Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain, as well as Vermont’s Mount Snow.

Vail Resorts of Colorado paid $11 per share of Peak Resorts. The Sacklers’ stake could be worth $114 million, according to calculations by Bloomberg.

Vail Resorts bought the parent of New Hampshire’s Mount Sunapee in 2018. With the Tuesday sale, Vail Resports will own four ski areas in New Hampshire, and three in Vermont.

Peak Resorts’ shareholders approved the sale of the company to Vail at a Sept. 20 meeting, according to a news release. In a news release Tuesday, Vail confirmed the sale was complete.

A filing with the Securities and Exchange Commission reports an entity named Cap 1 owned 54 percent of Peak Resorts’ shares. That filing stated Cap 1’s beneficial owners are Richard Sackler, Beverly Sackler and David Sackler, a branch of the same Sackler family that owns Purdue Pharma.

Richard Sackler was a member of Purdue Pharma’s board of directors, and is named as a defendant in the lawsuit brought against members of the Sackler family by attorneys general of New Hampshire and several other states.

According to that suit, Richard Sackler said at the launch party for opioid painkiller OxyContin that the pills would bury the competition in a “blizzard of prescriptions.”

The complaint says the prediction came true.

“Their blizzard of dangerous prescriptions buried children, parents, and grandparents throughout New Hampshire, and the burials continue with no end in sight.”

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Material from Bloomberg was used in this report.

Friday, December 06, 2019
Thursday, December 05, 2019