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Interfor Corporation to acquire Chaleur Forest Products for $325 million
Posted on October 10, 2022 |
- Chaleur owns 2 modern sawmill operations in Belledune and Bathurst, New Brunswick, with a combined annual lumber production of 350 million board feet, and operates a woodlands management division based out of Miramichi, managing 30% of the total Crown forestlands in New Brunswick.
- The Miramichi division will ensure a source of fiber supply for the sawmill operation and a stable, long-term stream of cash flow from third-party log sales, license management fees, and silviculture activities.
- The purchase price is $325 million (CAD) on a cash and debt-free basis, which includes $31 million of new working capital.
- Interfor Corporation reached an agreement with an affiliate of the Kilmer Group to obtain 100% of the equity interests in the entities including Chaleur Forest Products.