Hoigaard's Inc., a century-old outdoor equipment and apparel store in the Twin Cities, is being acquired by Colorado-based Vail Resorts Inc., according to a news release. Financial terms of the deal were not released.
"We are thrilled to be adding such a premier and beloved outdoor specialty store in the Twin Cities area to our retail family," Kat Jobanputra, COO of Specialty Sports Venture -- the retail division of Vail Resorts -- said in a statement. "Hoigaard's has a stellar reputation and their commitment to outstanding selection, product knowledge and unparalleled customer service, are perfectly aligned with the qualities that define the Specialty Sports Venture culture and philosophy."
Hoiggard's 20,000 square-foot-store in St. Louis Park will retain its name and its president, Todd Brewer, who is married to a fourth generation member of the Hoigaard's family, Vail Resorts said. The "majority of existing employees" will also continue to work at the retailer.
The Star Tribune says the company's name on an old industrial smokestack in St. Louis Park became a local landmark.
In December, Vail Resorts bought Afton Alps near Hastings and another ski resort in Michigan for a combined $20 million. Last month, the company announced it plans to give the Afton ski area a $10 million facelift this summer.