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Float-Rite concert site sold

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Despite hosting Country Splash 2010 in June, Terry Montpetit, owner of the Float-Rite Concert Site in Somerset, declared bankruptcy in late May just before the property was put up for auction.

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Matt Mithun, of Orono, Minn., purchased the 57.57 acres last week. He is involved in commercial real estate and music festival production. His family owns the Soo Pass Ranch in Detroit Lakes, Minn. that is home to the WE Fest Country Music Festival.

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