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Fibreboard Corp.’s recent flurry of deal-making has continued with the disclosure of an agreement to buy the Los Angeles-area Bear Mountain ski resort from S-K-I Ltd. for about $20 million.
The purchase, marking Fibreboard’s fourth significant acquisition in 13 months, will turn the Walnut Creek-based company into California’s largest skiing operator, surpassing Mammoth.
Coupled with Fibreboard’s two ski resorts in Northern California, the company expects to accommodate 1.1 million skiing customers annually, generating revenues between $50 million and $60 million. Fibreboard also owns Northstar-at-Tahoe and Sierra-at-Tahoe, the former Sierra Ski Ranch that the company purchased for $13.1 million in 1993.
