US Group Aiming To Take Full Control of “3 Valleys of The Andes”
Mountain Capital Partners (MCP), the third largest US ski area operator in terms of number of properties owned, wants to take a controlling stake in Andacor which owns 4 Chilean ski area including the two in the linked Tres Valles area, the Andes' largest ski domain, that MCP don't already own.
An American group which already owns two of the ski areas that make up the largest lift-served ski area in South America, known as the Tres Valles, has announced its intent to acquire a controlling stake in the company that owns the remaining third resort in the area.
Mountain Capital Partners (MCP), which is the third largest ski area operator in the US in terms of number of properties owned, wants to take a controlling stake in Andacor S.A.
Andacor is the longtime owner and operator of El Colorado and Parque Farellones in Santiago, which make up the Tres Valles region, east of Chilean capital Santiago, along with Valle Nevado and La Parva which MCP already own, acquiring them in 2023 and 2024 respectively.
The family run company is also the majority shareholder of two more of Chile’s ski areas: Pillán (Villarrica) and Volcán Osorno ski areas in southern Chile.
The proposed transaction is subject to corporate and regulatory approvals customary for this type of transaction.
“Founded in the late 1940s by 20 pioneers and led for more than 75 years by the Leatherbee family, Andacor has played a key role in the origins and history of Chilean skiing. This proposed partnership brings together two organizations deeply rooted in mountain culture and family values, united by a shared vision to invest in the future of skiing, both in Chile and on the global stage,” an MCP statement explains.
Last year MCP said their purchase of La Parva was part of a long-term plan to create the largest lift-served ski area in the world.
“You cannot tell the story of skiing in Chile without the Leatherbee family,” said MCP managing partner James Coleman. “If approved, this partnership would honor that legacy, building on three generations of tradition to shape the next chapter of skiing in the Andes.”
Andacor’s four ski areas have long stood among Chile’s most iconic mountains:
• El Colorado – Just outside Santiago, El Colorado sits high above the treeline with some of the best access to extreme (backcountry) skiing in South America. It is the only ski resort in Chile that has been family run for over 75 years (three generations).
• Parque Farellones – Farellones is Chile’s oldest ski area. Today, this family-friendly snow park offers snow tubing, sledding, and beginner slopes, serving as an entry point to the mountains, all located at the base of El Colorado.
• Pillán (Villarrica) – Located on one of South America’s most active volcanoes, Pillán offers striking above-treeline skiing, geothermal landscapes, and cultural significance rooted in Mapuche traditions. Unique volcanic backcountry terrain is also available, including treks to the volcano’s crater.
• Volcán Osorno – Volcán Osorno offers skiers and riders the rare chance to carve across snow-covered lava fields with sweeping 360° views of Lake Llanquihue, Patagonian peaks, and rainforests - all within Vicente Pérez Rosales National Park. With its rare snow quality, and terrain for all levels, Volcán Osorno delivers a big-mountain experience in a family-friendly setting.
“Our heart, hopes and history have been in this business since my parents founded Andacor in 1949,” said Richard Leatherbee, who was Andacor CEO for nearly 30 years. “In MCP, we have found a true partner who shares our values, our passion for the mountains and our belief in the future of skiing in Chile. This partnership would not only preserve the legacy of El Colorado, Parque Farellones, Pillán (Villarrica) and Volcán Osorno, it would create new opportunities to elevate and grow the skiing experience for generations to come.”
