BROOMFIELD, Colo.—Vail Resorts Inc. is buying the remaining stake in a retail joint venture with the Gart family that it didn’t already own.
Vail Resorts says its $31 million purchase of a 30 percent interest in SSI Venture LLC, known as Specialty Sports Venture, should close Friday. The purchase was planned under the original joint venture agreement.
Tom and Ken Gart will leave Specialty Sports Venture, but Chief Operating Officer Kat Jobanputra and 52 other corporate employees will remain and relocate from Denver to Vail Resorts’ headquarters in Broomfield this fall.
SSV President Ken Gart says the family has a two-year non-compete agreement covering mostly ski retail, but they have other retail interests and are looking at more.
