B.C.’s Gaglardi family buys Grouse Mountain less than 2 years after last sale

Grouse Mountain looking towards downtown Vancouver. Shealgh Westfield

For the second time in less than two years, North Vancouver’s Grouse Mountain resort has been sold again.

Canadian investment firm Northland Properties Corporation, which is owned by the Gaglardi family, announced Thursday it had reached a deal to buy the popular attraction for an undisclosed price.

READ MORE: Deal reached to purchase Grouse Mountain

The acquisition adds Grouse to Northland’s existing B.C. ski assets, the Revelstoke Mountain Resort and Selkirk Tangiers Heli Skiing.

“We look forward to working closely with the existing team and leadership group, as well the community to ensure we maintain and evolve the iconic Grouse Mountain experience for all of our visitors,” said Northland president and CEO Tom Gaglardi in a media release.

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The property last changed hands when it was bought by CM (Canada) Asset Management Co., a Vancouver-based investment firm backed by Chinese giant China Minsheng Investment Group.

READ MORE: Vancouver resort Grouse Mountain listed for sale

The price tag on that sale was also not disclosed, but the resort had previously been valued at about $200 million.

Prior to that, it had been owned by the Vancouver-based McLaughlin family for decades.

Grouse adds to Northlands’ already significant business portfolio, which includes the Dallas Stars NHL team, the Kamlooops Blazers, the Sandman and Sutton Place hotels, and the Denny’s Moxie’s and Shark Club restaurant chains.

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