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Whistler Blackcomb and Vail Resorts have announced a new merger. Combining the two groups together will provide increased financial strength, marketing exposure, guest relationships and broaden the geographic diversity of Whistler Blackcomb, the two companies said. The unification of the two companies is supposed to bring greater support resources to current operations and growth plans, including Whistler Blackcomb’s upcoming Renaissance Project.
The merger has been unanimously approved by the Whistler Blackcomb board of directors, the Vail Resorts board of directors and shareholders representing 25 percent of Whistler Blackcomb’s common shares.
Whistler Blackcomb will nominate a member of its board to the Vail Resorts board of directors, while Dave Brownlie, chief operating officer at Whistler Blackcomb, will remain in his position and will also become a member of the senior leadership team of Vail Resorts’ mountain division.
Under the transaction, Vail Resorts will acquire 100 percent of the stock of Whistler Blackcomb, whose shareholders will receive C$17.50 per share in cash and 0.0975 shares of Vail Resorts common stock, for consideration having a total value of C$36.00 per share. The share exchange ratio is based upon closing stock prices and currency exchange rates as of August 5, 2016 and is subject to a currency exchange rate adjustment.
The two groups have pledged their commitment to each other for continued success and building on current strength, including Vail Resort retaining the majority of Whistler Blackcomb employees, continued local Canadian leadership at Whistler Blackcomb and Vail Resorts investing in Whistler Blackcomb’s mountain infrastructure.
Whistler Blackcomb will continue its community involvement and maintain operation of the Whistler Blackcomb Foundation to benefit environmental and sustainable commitments. Consistent with Vail Resorts’ core values, Vail Resorts will support the Whistler Blackcomb Foundation and all of Whistler Blackcomb’s relationships with organizations like Tourism Whistler, Destination BC, Canada Wet Ski Areas Association and the Whistler Chamber of Commerce.
Whistler Blackcomb will continue to honor the resorts existing season pass products for the full 2016-2017 winter season. In the future, Vail Resorts is looking to integrate Whistler Blackcomb into its Epic Season Pass and other season pass products for the 2017-2018 winter season.