Stephanie Chu-O’Neil

The Berry Family, owners of Saddleback Mountain, have reached an agreement with Arctaris Impact Fund of Boston for the purchase and sale of Saddleback Mountain.

The Berry family has been in negotiations with various entities over the last few years as they looked for the right buyer for their property, but the sale was never completed. The family has owned Saddleback since 2003 and invested more than $40 million in improvements to expand and upgrade the ski resort.

Saddleback has been closed since the 2014-2015 ski season, when the Berrys determined that major capital expenditures were necessary for the continued operation of the mountain. It was then that they decided to look for a buyer who had the resources and vision to continue the revitalization that the family started.

Arctaris first expressed an interest in the property in 2018. This week, they have finalized an agreement with the Berry Family to purchase and reopen the mountain.

With an elevation of 4,120 feet, Saddleback is one of the largest mountains in Maine. It offers 2,000 vertical feet of skiing and some of the toughest expert terrain in the East. In the ten years the Berrys operated the mountain, annual skier visits increased from 15,000 to more than 130,000.

Comments are not available on this story.