I'mGruben’s Marina on Lake Vermilion acquired by local Investors; Sally Gruben retiring
It was announced today that Gruben’s Marina, a long established marina and resort facility on pristine Lake Vermilion, has been sold. The transaction was completed today, 12/31/14.
The business will continue to operate in 2015 and thereafter under the Gruben’s Marina name. Seller was Sally G. Gruben, owner operator since 1993 of the long time family business. The acquirer was Gruben Holdings LLC, a group of six local couples who came together for this purpose headed by Rick Sathre as president.
“I thank all of the wonderful customers and our community”, Sally Grubens said. “it has been many wonderful years but I am now retiring and can leave things in good hands with this group. They have many ideas to invest and serve our customers. It is a good time to transition and they will bring good things to Gruben’s.”
The community celebrated Sally Gruben with a party in her honor on August 16, 2013, while the business was in transition. The event was attended by several hundred well wishers.
Rick Sathre, president of Gruben Holdings LLC, noted that the group had arranged to continue the business under the name Gruben’s Marina. “We have a unique opportunity to carry on serving our customers with integrity under the Gruben name and in this beautiful location in the heart of Lake Vermilion. Our investors are local couples, just like my own wife and I, who desire that Gruben’s Marina fulfill its destiny as a key community asset. We want to assure that Gruben’s will continue, and of course will invest, improve and be good neighbors and employers here on the Lake.”
Gruben’s Marina consists of over 60 boat slips and over 1140’ of prime Lake Vermilion shoreline with over eight land acres total. Services include boat launch, storage, and repair. Also offered are vacation rentals and a convenience store. The new owner group intends to continue and expand those offerings in 2015 and beyond and most employees will be returning. The facility has been in the Gruben family since about 1919. It is located in the heart of Lake Vermilion in Greenwood Township, about midway between Tower and Cook Minnesota.