West Virginia businessman Jim Justice today announced that his company has purchased The Greenbrier resort and 80 percent of The Greenbrier Sporting Club. The purchase by the Justice Family Group, LLC was made through the acquisition of the stock of The Greenbrier’s holding company.
“I am very excited to become part of one of America’s finest traditions,” said Justice. “The Greenbrier is uniquely ‘West Virginian,’ and I look forward to working with the team to build on its legacy.”
Mr. Justice also plans to seek dismissal of the bankruptcy of The Greenbrier.
“Our near-term goal is to give The Greenbrier a fresh start,” said Justice. “Even though the current economy is taking its toll on the resort, we are going to take a long-term view by focusing on reclaiming our five-star status and making the right investments for future growth.”
Michael Ward, chairman, president and chief executive officer of CSX, commented, “While this is an entirely different kind of transaction than expected, this is a great result for The Greenbrier, its employees, the community, and CSX. Mr. Justice has made his passion and enthusiasm for The Greenbrier very clear.”
The Greenbrier, residing on 6,500-acres of lush landscape in West Virginia’s Allegheny
Mountains, is an award-winning resort which has been offering a welcoming home to its guests since 1778. The Greenbrier Sporting Club is an upscale private residential development located at the resort.