RANGELEY, Maine (WMTW) - The Berry family, current owners of Saddleback Mountain, has reached an agreement for sale of Saddleback Inc. and the Saddleback Land and Timber Corp.
A press release published on Saddleback Maine's Facebook page confirmed the agreement of sale Thursday.
The mountain will reopen under the ownership of Arctaris Impact Fund of Boston after a five-year closure.
The Boston investment fund expressed interest in the property in 2018, ultimately reaching an agreement with the Berry family this week to purchase and reopen the mountain.
“This beautiful mountain has so much potential, and it looks like the buyer has a strong plan moving forward. We are excited for the acquisition to be complete for the Saddleback Resort community and the entire Rangeley area,” said Dawn Klein, real estate broker for the Berry family.
With an elevation of 4,120 feet, Saddleback is one of the largest mountains in Maine. The mountain offers 2,000 vertical feet of skiing and some of the toughest expert terrain in the east.