- Viad Corp (NYSE:VVI) has agreed to acquire the Glacier Raft Company and related lodging, land, and other assets. Deal terms were not disclosed.
- Glacier Raft provides guided river rafting trips operating in the heart of Pursuit's West Glacier, Montana operations. It also owns 13 log cabins, a lodge, and a wedding venue located on 50 acres with views into Glacier National Park.
- The company expects Glacier Raft and the new Forest Park Hotel in Jasper to contribute to positive EBITDA in 2022.
- As of March 22, 2022, Viad's liquidity position was ~$158 million. As of December 31, 2021, it had $149 million liquidity, comprising cash and equivalents of $62 million and $87 million of credit facility.
- The company plans to fund the acquisition with cash on hand and available revolver capacity.
- Viad also amended its 2021 Credit Agreement to provide additional flexibility through Q1 of 2023.
- Price Action: VVI shares are trading higher by 0.19% at $34.53 on the last check Thursday.
