Vail Resorts has entered into a merger agreement to acquire 100 per cent of the outstanding stock of Peak Resorts.

At a purchase price of $11 per share, the deal is valued at roughly $264 million.

The purchase remains subject to certain conditions, including regulatory review and Peak Resorts’ shareholder approval.

“We are incredibly excited to have the opportunity to add such a powerful network of ski areas to our company,” said Rob Katz, chairman and chief executive officer of Vail Resorts.

“Peak Resorts’ ski areas in the north-east are a perfect complement to our existing resorts and together will provide a very compelling offering to our guests in New York and Boston.

“With this acquisition, we are also able to make a much stronger connection to guests in critical cities in the mid-Atlantic and Midwest and build on the success we have already seen with our strategy in Chicago, Minneapolis and Detroit.”

The deal includes Mount Snow in Vermont; Hunter Mountain in New York; and Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire.

Also on the table are Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania; Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio; Hidden Valley and Snow Creek in Missouri; and Paoli Peaks in Indiana.

“Vail Resorts has a proven track record of celebrating the unique identity of its resorts, while continually investing in the guest and employee experience.

“For this reason, we are confident that our resorts and employees will continue to thrive within the Vail Resorts network,” said Timothy Boyd, president and chief executive officer of Peak Resorts.

“We are very proud of our track record over the last two decades in building the breadth, quality and accessibility of our resorts.”

Vail Resorts is a leading global mountain resort operator, running 17 world-class mountain resorts and three urban ski areas.