Stone Tree Golf and Fitness Club, part of the Balnar Management Ltd. of Guelph, Ont., has acquired the former Owen Sound Golf and Country Club.
No financial details were disclosed.
The Owen Sound club went into receivership in July, 2011, and was purchased by Kinsale Investment Limited. The original purchase of the golf course included a large parcel of land adjacent to the golf course.
“We are very pleased with the sale of the golf course to Stone Tree,” said Ed O’Brien president of Kinsale Investment Limited.
“We are home builders, not golf course managers. We have spent the past two months carefully exploring our options going forward with the golf course. We decided the best option for the golf course was to team up with Stone Tree,” said O’Brien.
“Stone Tree has a superb track record as one of the best courses in the region. Existing members of the former Owen Sound club and the golfing community in general, can rest assure that the application of Stone Tree’s expertise will be very positive as this club moves into a new era,” he said.
Stone Tree Director of Operations Michael Todd added the Owen Sound club will complement Stone Tree’s existing facilities.
“We are very proud of Stone Tree – its excellent 18-hole course, its dining, banquet and wedding facilities and its popular fitness club,” said Todd.
“This purchase means that we will be in a position to apply our expertise and experience to the former Owen Sound club,to return it to a viable – in fact – a profitable operation,” he added.
“One of our major principles at Stone Tree is continuous improvement. Our golfers often mention that as one of the major reasons they golf here,” said Todd. “You can be assured we will apply that principle to the newly acquired course as well.”
Todd emphasizes that the 91-year-old Stanley Thompson-designed course will be ready for play this spring and a number of changes will be evident. One of those changes will be a new name for the club.
“We haven’t settled on a name yet, but we are very close. We are looking at a name that will reflect the long history of the club, but at the same time demonstrates a new and positive image,” said Todd.
An official launch of the rebranded golf club, including the unveiling of its new name, will occur in February at the former Owen Sound club.