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Vail Resorts to acquire Crested Butte, 3 other ski resorts

BROOMFIELD, Colo. -- Vail Resorts has announced it is buying the Crested Butte Mountain Resort and three other resorts outside Colorado.

Crested Butte will become Vail Resorts' fifth Colorado ski resort along with Vail, Beaver Creek, Breckenridge and Keystone.

It's located about 30 miles north of Gunnison.

Vail is paying the Mueller family $82 million to acquire Triple Peaks LLC, which owns Crested Butte, Okemo Mountain Resort in Vermont and Mount Sunapee in New Hampshire.

Vail will also pay $67 million to acquire the Stevens Pass ski area in Washington state in a separate deal.

Crested Butte and other acquired resorts will be part of the Vail Resorts' Epic Pass.

Vail Resorts has committed to spend $35 million over two years to improve its new holdings.