Weyerhaeuser finalizes $60M sale of Princeton Lumber Mill to Gorman Group

Posted on September 3, 2025   |  

Weyerhaeuser has sold its Princeton lumber mill in British Columbia to the Gorman Group for about $60 million.

The transaction, first announced in May, also covers Weyerhaeuser’s B.C. timber licenses, which will transfer separately in the coming months, pending regulatory approval.

Weyerhaeuser recorded a gain from the sale but expects an $11 million tax liability. Remaining proceeds will be tied to the timber license transfer.

The company manages around 10.4 million acres of U.S. timberlands and operates as a real estate investment trust (REIT), while also managing public timberlands in Canada under long-term licenses.

The Gorman Group is a family-owned business with nearly 75 years in the wood products sector.

Its operations include two sawmills, a plywood plant, a pole plant, and a remanufacturing facility in British Columbia, plus one remanufacturing plant in Washington.

The group employs about 900 people and specializes in high-value lumber for home finishing and renovation markets.