Our beloved Bluefin Bay Family of Resorts is officially under new ownership. We’re pleased to report that Silver Bay native, Joe Swanson, and his business partner, Pipasu Soni, are the new owners of Bluefin Bay Resorts, operating under the management company, BFB Management, LLC.
Dennis Rysdahl, co-founder and 36-year owner of Bluefin Bay Resorts, will remain in a leadership and advising role for a year or more until his official retirement.
In planning for his succession, Dennis sought to find a buyer who would carry on the legacy of first-rate lodging and amenities, warm and friendly hospitality, and the high quality of guest service for which the Bluefin Bay brand is known. For Dennis, that also meant developing the Resorts’ leadership team and selecting an owner who would continue the longstanding commitment to the Bluefin Bay staff, owner partners, and the local community.
“I knew when I saw Joe Swanson’s name on the list of potential buyers that he was one of us. He shares a history here, as well as our core values and commitment to the community. Pipasu Soni’s resume and skill sets are also exceptional. I’m confident we’ve selected an ownership team that is deeply committed to continuing the Bluefin Bay tradition of creating memorable vacation experiences for guests for years to come,” Dennis said.
New owner has North Shore roots and a love for Bluefin Bay
For Joe Swanson, owning Bluefin Bay Family of Resorts is a dream come true. A Silver Bay native, Swanson worked at Bluefin Bay for seven years during high school and college in housekeeping, dining, and maintenance positions.
Now a 401(k) and business advisor in the Twin Cities, when Swanson saw the resort for sale, he immediately contacted his friend and business partner, Pipasu Soni, to discuss the idea. Pipasu is chief financial officer for Winnipeg-based NFI Group, a bus and coach manufacturer. He previously served in several finance roles with U.S. Steel. The duo met through their wives who were friends and their children went to school together. Likewise, Joe and Pipasu became fast friends and eventually business partners.
“We’re deeply committed to advancing the culture and reputation of Bluefin Bay Family of Resorts developed by Dennis and his team,” Swanson said. “The Bluefin Bay team is the best I’ve ever met, bar none! That’s a tribute to Dennis’ leadership and hard work to create a community and experience beloved by so many.”
“We’ve had great success over the last two years building a capable and committed leadership team in preparation for an eventual sale, and the new owners will retain that team. I have a high degree of confidence that the operations of the resorts will continue to thrive,” Dennis confirmed.
Join us in congratulating and welcoming new owners, Joe Swanson and Pipasu Soni! And, thank you to co-founder Dennis Rysdahl for his vision, leadership, careful planning, and tireless commitment that has made the Bluefin Bay Family of Resorts what it is today.
We are proud that Bluefin Bay has always operated like an extended family, where we care about and take care of each other and take great pride in creating memorable vacation experiences for our guests. Today, we welcome two new owners to that extended family who share that commitment.
Read more about the resort sale from today’s press:
- North Shore resort Bluefin Bay sold to Silver Bay native, Star Tribune
- Bluefin Bay Resorts on the North Shore have sold, Mpls-St. Paul Business Journal
- Bluefin Bay Resorts sold to North Shore native, Duluth News Tribune
- Bluefin Bay changes hands in latest North Shore resort sale, Pioneer Press, Twincities.com
- New ownership duo buys Bluefin Bay Family of Resorts, BusinessNorth
- The North Shore’s Iconic Bluefin Bay Family of Resorts Under New Ownership, Cook County News Herald
- Getting to know the new co-owner of Bluefin Bay Family of Resorts, WTIP Radio