Seven Springs Mountain Resort to acquire Hidden Valley Resort
Seven Springs Mountain Resort, located in Pennsylvania, has reached an agreement with The Buncher Company of Pittsburgh to purchase nearby Hidden Valley Resort. Seven Springs, home to one of the best terrain park setups in the mid-atlantic, is located about 13 miles from Hidden Valley, which boasts 1,200 acres of skiable terrain spread out over 29 ski trails.
Press Release, Seven Springs, PA, September 3, 2013:
Seven Springs Mountain Resort and The Buncher Company of Pittsburgh jointly announced today that an agreement has been reached under which Seven Springs will acquire nearby Hidden Valley Resort from The Buncher Company.
Located only 13 driving miles from Seven Springs, Hidden Valley consists of approximately 1,200 acres encompassing 29 ski slopes and trails, as well as an 18-hole golf course.
“We have great respect for The Buncher Company. They have been good stewards of the resort since 2007,” said Bob Nutting, Chairman of Seven Springs. “As we have demonstrated with all of our other operations in the region, we are committed to the long-term success of Hidden Valley as a family destination.”
“We always have looked upon Hidden Valley as a unique investment” said Buncher President Tom Balestrieri. “We believe we have taken an underutilized and underperforming asset and have restored Hidden Valley’s reputation as one of the premier family resorts in the mid-Atlantic region through strategic improvements, such as the investment in the largest fully automated TechnoAlpin snowmaking installation of its type in the US.”
“Both resorts are strong and important establishments with long histories and bright futures. We will work to ensure that both Hidden Valley and Seven Springs grow and thrive as family destinations,” added Nutting.
The Buncher Company, a leading real estate developer in Western Pennsylvania, will continue to concentrate its efforts on its core businesses, including its longer-term real estate developments in Pittsburgh and six surrounding counties.
“The Buncher Company’s underlying philosophy, instilled by company founder Jack G. Buncher, has always been to partner with and enhance the values of the communities in which we operate,” said Balestrieri. “We remain committed to continuing that tradition with our other holdings in Somerset County.”
“We have long held a deep appreciation for Hidden Valley and the family experience it offers. I have fond memories of skiing these very slopes and the slopes of Seven Springs with my family during my childhood and with my children,” said Nutting. “Every year, thousands of families build similar memories and experiences at Hidden Valley and Seven Springs. That is something we respect, appreciate and will build on moving forward. We want to ensure that more and more guests have the opportunity to develop the passion for the outdoors in the Laurel Highlands.”