Viad Agrees To Acquire Glacier Raft For Undisclosed Sum

Viad Corp 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.