Vail Resorts, a leading global mountain resort operator, announced it will acquire Canada’s Whistler Blackcomb Holdings for about $1.4 billion.

“Combining Whistler Blackcomb with Vail Resorts’ portfolio of outstanding resorts provides Whistler Blackcomb with increased financial strength, marketing exposure, guest relationships and broadens the geographic diversity of our company with resorts across the United States, as well as in Australia and Canada,” said Whistler’s CEO Dave Brownlie.

Whistler Blackcomb is in the Squamish and Lil’wat First Nations’ traditional territories. Brownlie, who will continue on as CEO and become a member of the senior leadership team of Vail Resorts’ mountain division,  said discussions with the local communities will continue in regards to a business partnership with long-term benefits.

Meanwhile, the day-to-day operations at the ski resort are expected to stay the same, with local Canadian leadership and the retention of local employees.

Rob Katz, chairman and chief executive officer of Vail Resorts, said the company will invest in the resort’s mountain infrastructure and growth plans, while preserving its brand and character as “an iconic Canadian destination for guests around the world.”