Alterra Mountain Co. has reached an agreement to purchase the Arapahoe Basin ski area in Colorado from Dream Unlimited Corp.
The companies expect the transaction to close later this year, pending regulatory approval. Transaction terms have not been disclosed.
A-Basin, as Arapahoe Basin is commonly called, will be Alterra's 17th North American ski area and its third in Colorado, joining Steamboat and Winter Park.
The mountain has been on Alterra's Ikon Pass since 2019, offering limited annual access of up to seven days for the full Ikon product and up to five days for the cheaper Ikon Base Pass.
Alterra said there will be no changes in that access for the remainder of this ski season.
With nine lifts and approximately 1,428 acres of skiable terrain, A-Basin isn't one of Colorado's largest ski areas. But the mountain, known for its advanced terrain, long season and laid-back atmosphere, has an especially loyal following.
Alterra promised to preserve A-Basin's culture in Monday's announcement, and announced that the mountain's current chief operating officer, Alan Henceroth, will stay on after the ownership change.
"A-Basin has a long-time and loyal following among skiers and riders in Colorado and we care deeply about the culture of A-Basin that brings them back," Henceroth said in prepared remark. "We have worked with Alterra Mountain Company since 2019 when we joined the Ikon Pass community, and we have every faith that Alterra is committed to helping us maintain A-Basin's authenticity."
Canada-based Dream Unlimited has owned A-Basin since 1996.