Burke, Vermont — Over the past few weeks, Burke Mountain skiers and riders have been getting excited, as a local ownership group has been working towards finalizing a deal to acquire the Vermont ski resort. It now appears that this process is going through the final stages.
Yesterday, Bear Den Partners announced that it has submitted a purchase and sale agreement to acquire Burke Mountain Resort. In addition, federal receiver Michael Goldberg submitted yesterday a “Motion for Entry of Order Approving Sale of Burke
Mountain Resort and Granting Related Relief.” Closing on this federal receivership process is more convoluted than the traditional sale process, and it will have to be approved by a federal judge.
This ownership group has been working on a bid for the past four years and has over 100 years of experience in the outdoor recreation industry. Their goal is to keep Burke Mountain as a great independent ski resort that locals can enjoy for generations to come.
The leader of this group is Ken Graham. He’s skied at Burke for over fifty years and attended school at Burke Mountain Academy. He’s the founder of Inverness Graham Investments, which is in its 21st year. Other members of the Graham family are also part of his group. Ken’s father, Donald Graham, helped save Burke Mountain in the 1990s and has helped finance various projects at the ski resort.
“To me, Burke is the real deal. If you’re looking for the heart and soul of New England skiing, and a pure Vermont mountain town vibe, I tell my friends, ‘Come to Burke and bring your dog,’” explained Bear Den Partners principal Ken Graham. “Burke has a deeply loyal customer base and an equally dedicated core of local staff who want the resort to succeed. They’ve been amazing through this Federally managed transition and have so much depth, knowledge, and passion for the resort and the region they call home. We look forward to adding our expertise to the mix and taking Burke to a level where we know it can excel for years to come. My family has been part of the Burke community for the last 50 years, and we are really excited to help write the next chapters at Burke for decades to come.”
In the first 24 months, the new group is planning to make some significant improvements. Some of the ideas include tripling the snowmaking capacity (potentially in time for next ski season), doing deferred maintenance, adding more top-to-bottom trails, building an intermediate terrain expansion, making improvements to the food and beverage and hotel, and refurbishing and adding to the biking trail network.
In terms of the operational portion of the ski resort, they’re bringing in a ski industry veteran. Jon Schaefer, who operates Berkshire Mountain Resort in Massachusetts, Catamount Mountain Resort in Massachusetts/New York, and Big Red Cats in British Columbia, will serve as principal operator. This is also good news for mountain bikers, as Schaefer helped with the construction of the Thunder Mountain Bike Park at Berkshire East.
“Burke is a great mountain, and the Northeast Kingdom is a special place,” said Jon Schaefer, Bear Den Partners principal operator. “We are here to fix the infrastructure of the resort. Out of the gate, we commit to improving snowmaking and making the right operational upgrades that have been long overlooked. These changes will fundamentally transform how the resort functions for skiers and riders on the hill. Bear Den Partners is committed to making substantial upgrades immediately and will continue for at least the next five years. Our group only has one speed: to get it right.”
Burke Mountain Academy, the ski school that was the training place for Mikaela Shiffrin, also has representation in the group. Willy Booker, who’s the Head of School for Burke Mountain Academy, is part of this new ownership group.
“The success and continued small mountain culture of the Mountain is symbiotic with Burke Mountain Academy,” said Willy Booker, Burke Mountain Academy Head of School. “We are excited to be a part of a team working to find a sustainable solution for the resort that respects the unique culture of the mountain, our region, and our school. BMA has been working hand in hand with Burke Mountain for more than 50 years; we are deeply invested in ensuring the resort’s prosperity for our school and our local community.”
You never know what’s going to happen when a ski resort transitions to new ownership, but I’m pretty stoked about this announcement. These are people who care deeply about Burke, and the investments will make more skiers and riders want to visit this underrated gem.
We’ll keep you posted at Unofficial Networks regarding the latest on the Burke sale and the potential improvements that could be on the way.
Image Credits: Burke Mountain Resort
