Minnesota-Based Sun Country Airlines Sold to NY Group
EAGAN (AP) — Eagan-based Sun Country Airlines is being sold to a New York-based investment group.
Apollo Global Management will purchase the airline for an undisclosed amount.
Current owners Mitch and Marty Davis say they decided to sell Sun Country to a group that could help the company grow faster.
Sun Country's headquarters will stay in Minnesota. Jude Bricker will remain president and chief executive.
The deal is expected to close in the first quarter of 2018.
Sun Country's flights are anchored at Minneapolis-St. Paul International Airport and are primarily set up for leisure travelers to reach warm-weather destinations, including resorts in Mexico, Central America and the Caribbean.
The Davis brothers also own Cambria, Davis Family Dairies and Cambria Mortgage and Title. They bought Sun Country in 2011.