Local Investors Ben duPont and Don Wirth to Purchase DuPont Country Club
WILMINGTON, Del. (PRWEB) April 05, 2018 -- Ben duPont and Don Wirth today announced they have signed a binding letter of intent to purchase the DuPont Country Club from DuPont. Terms of the agreement were not disclosed.
“We see this as a unique opportunity to protect the legacy of the DuPont Country Club and continue the 98-year history of this important Delaware tradition and community asset,” said Ben duPont. “Our plan is to build on the traditions of the club by creating a state-of-the-art, affordable and family-focused club for the Greater Wilmington community.”
The new owners, who are both longtime members of the DuPont Country Club, plan to make an initial investment of $18 million to upgrade and enhance the Club and its important role with sports enthusiasts and families in the community. Planned improvements include the addition of a pool and a full-scale fitness facility, substantial upgrades to the golf and tennis facilities, enhanced dining options and expanded youth sports capabilities. Membership dues are expected to remain at present levels through 2019.
“This announcement represents an ideal outcome for the DuPont Country Club and the local community,” said Edward D. Breen, Chief Executive Officer of DowDuPont. “From the beginning, DuPont has maintained our commitment to identifying a community-minded buyer to continue to operate the facility as a club without residential development. As local investors with deep Delaware roots, Ben duPont and Don Wirth are the perfect buyers to build on the Club’s past to create an even greater experience for the Wilmington community moving forward.”
Ben duPont is a partner at Chartline Capital Partners, and Don Wirth retired from DuPont as vice president, Corporate Supply Chain in 2014. The two Wilmington residents came together to form a partnership for the exclusive purpose of purchasing the DuPont Country Club, which they have committed to continuing to operate as a country club.
The transition in ownership will be seamless for members. All current employees at the DuPont Country Club have been offered positions to remain employed by the new owners. Dan Bradway will continue in his role as the Club’s General Manager and will be responsible for day-to-day operations.
In announcing the transaction, the parties expressed appreciation to local officials including State Senator Greg Lavelle and County Councilman Bob Weiner for their efforts in supporting the Club’s future.
The DuPont Country Club occupies more than 500 acres in northern Delaware and features three 18-hole golf courses and 25 tennis courts in addition to the 113,000-square foot clubhouse. The sale includes the Brantwyn Estate. Over the years the Club has hosted a number of professional and prestigious amateur golf tournaments, including the LPGA Tour’s McDonald’s Championship from 1987 to 2004.
The transaction is expected to close in the second quarter.
About DuPont
DuPont is a subsidiary of DowDuPont (NYSE: DWDP), a holding company comprised of The Dow Chemical Company and DuPont with the intent to form three strong, independent, publicly traded companies in agriculture, materials science and specialty sectors that will lead their respective industries through productive, science-based innovation to meet the needs of customers and help solve global challenges. More information can be found at http://www.dupont.com.
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Gregg M. Schmidt, DuPont, http://www.dupont.com/, +1-302-996-8368, [email protected]
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