Boston Company To Buy Maine's Saddleback Mountain Ski Resort

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The owners of the shuttered Saddleback Mountain ski resort say they have reached an agreement with a Boston firm to purchase the Rangeley property.

The resort has been owned by the Berry family since 2003. In a statement released Thursday, family members said they've reached an agreement to sell the resort to Arctaris Impact Fund, which plans to reopen it.

The Berrys invested millions in the property, but ended up closing the resort in 2015 and putting it up for sale.

Arctaris expressed interest last year in buying the property, according to the press release, and finalized the purchase agreement this week. The purchase price was not disclosed.

In 2017, the Berrys announced that they were selling the resort to Majella Group, an Australia-based company, but that deal fell through.

The Berrys say Saddleback, at an elevation of 4, 120, offers 2,000 vertical feet of skiing, and some of the toughest expert terrain in the East. In the twelve years they've operated the mountain, they say, annual skier visits grew from 15,000 to more than 110,000.

This story will be updated.