Seven Peaks Buys Daily Deals Site CityDeals

Seven Peaks, the owner of Utah’s largest water park, has acquired the assets of regional daily deals website CityDeals. Terms were not released. CityDeals was reportedly struggling to stay in business before the acquisition, according to the Deseret News. Seven Peaks was one of the company’s largest creditors prior to the deal.

PRESS RELEASE
Seven Peaks, Utah’s leader in family entertainment and recreation, today announced that it has acquired the assets of CityDeals, the leading regional online daily-deal provider. As a long time customer of CityDeals, Seven Peaks has seen tremendous success offering consumers deals through CityDeals. With the acquisition, Seven Peaks will continue to advance the online deal category and deliver compelling deals to consumers.

“Consumers and merchants have loved the value they’ve received from CityDeals over the years,” said Bruce Law, VP of Marketing at Seven Peaks. “Seven Peaks was one of those satisfied merchants. The acquisition of CityDeals by Seven Peaks assures that CityDeals will continue to provide tremendous benefits to consumers and regional business owners and have stamina to deliver those benefits over the long haul.”

As part of the acquisition, Seven Peaks is working with merchants to ensure all deals sold online to date through CityDeals will be honored. Seven Peaks is also working out arrangements to take care of any merchants that have been awaiting payment from CityDeals. Merchants involved with CityDeals are supportive of the transaction.

“We were staring at a pretty big receivable from CityDeals and didn’t know how we would continue to provide service without compensation,” said Glen Overton of Hotel Park City. “With the acquisition by Seven Peaks, we’ll be able to continue to provide these discounted services, which have helped our customers and our business.”

Details of the acquisition were not disclosed.

About CityDeals
CityDeals ( www.citydeals.com ) is an online resource to shop for hundreds of local gift cards and certificates. CityDeals offers hundreds of deals daily to restaurants, spas, entertainment, hotels, clothing, movie tickets, and more. Discounts on CityDeals range from 20-80% off the everyday retail prices. CityDeals does not require a membership or fee to shop for deals. Currently, once a consumer purchases a deal, CityDeals will mail a professionally designed certificate. Gift Cards or online credit can also be purchased. Certificates are mailed and received generally within three business days.

About Seven Peaks
Utah’s entertainment leader, Seven Peaks, recognizes the need for families to have wholesome, affordable and active alternatives for recreation and fun across the state. Seven Peaks owns and operates four recreational venues including Seven Peaks Waterpark Provo(TM)–Utah’s largest water park, Seven Peaks Waterpark Salt Lake(TM), and the two Trafalga Fun Centers(TM) located in Orem and Lehi, Utah. The company is also the creator of the Pass of all Passes(TM), offering guests discounted admission to many different recreational venues along the Wasatch Front.