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Mergers and Acquisitions

Do you have information that should appear in Daily WoodWire? Send it to Jeff Redd, WoodWire editor, by fax at 1-800-874-7979, or e-mail to jeff@rlpi.com


Conifex completes acquisition of sawmills in U.S. South
Conifex Timber Inc. announced July 9 that it has completed the acquisition of the Suwannee sawmill in Cross City, Fla., and the Caddo River sawmill in Glenwood, Ark. The Company also announced that, in connection with the completion of the transaction, Charles P. Miller and George R. Judd have been appointed to the board of directors of Conifex. Ken Shields, Conifex's President and CEO, stated: "We are pleased to announce the completion of this transformative transaction, which significantly increases our presence in the U.S. South, a region that is home to some of the fastest growing housing markets in the U.S." For more, click here...
7/11/2018


Cedar Creek rebranding to BlueLinx
BlueLinx Holdings Inc. (NYSE:BXC), a leading distributor of building and industrial products in the United States, today announced that it would conduct the business of Cedar Creek and all of its subsidiaries under the BlueLinx brand. “This news is representative of our evolution to come together as one team. We are excited to continue providing outstanding service to our customers and great representation for our vendor partners as one company, under one name.” said Mitch Lewis, President and Chief Executive Officer.
7/9/2018


Taiga acquiring Exterior Wood
Taiga Building Products Ltd., the Burnaby, British Columbia, Canada-based wholesale building products distributor, has entered into an agreement to acquire Exterior Wood, Inc. Terms of the deal call for a subsidiary of Taiga to acquire all of the issued and outstanding common shares of Exterior Wood for a price of about US$42 million. Exterior Wood has been operating a wood treatment facility and distribution center in Washougal, Wash., since 1977, and services retail building supply centers throughout the western United States and Canada with a wide array of pressure treated products. For more, click here...
7/6/2018


Maine's Hammond Lumber acquires EBS Building Supplies
Hammond Lumber Company (Hammond) announced today that it has acquired EBS Building Supplies (EBS), a lumber and building materials company, and all 10 of their coastal locations. The announcement was made today at the location in Ellsworth. Hammond, a third generation, family-owned company since 1953 with more than $250 million in sales, now has more than 800 employees and 21 locations. The company is the largest LBM dealer in Maine and one of the largest independent LBM dealers in the country. For more, click here...
6/27/2018


Interpro, Dakeryn join forces with new export company
The sales staff from Interpro Forest Products has joined Dakeryn Industries Ltd., North Vancouver, B.C., to form the Interpro Export Group Ltd.
6/5/2018


U.S. LBM acquires Arizona company
U.S. LBM Holdings, LLC (“U.S. LBM”), a leading distributor of specialty building materials in the United States, has acquired Arizona’s R&K Building Supplies. R&K President Chad Coons will be retiring from the company in the coming months and his son Chip Coons, currently vice president of R&K, will continue as president. For more, click here...
6/4/2018


Conifex to expand into U.S. South
Vancouver-based Conifex Timber Inc. says it has reached an agreement with Blue Wolf Capital Partners to buy sawmills in Florida and Arkansas that will increase its lumber production capacity by about 50 per cent to 1.1 billion board feet, according to the Times Colonist newspaper. For more, click here...
5/16/2018


U.S. LBM Holdings announces acquisition
U.S. LBM Holdings, LLC (“U.S. LBM”), a leading distributor of specialty building materials in the United States, announced today that it has acquired Myrtle Beach Building Supply. With this acquisition, U.S. LBM now operates eight locations across North and South Carolina. For more, click here...
5/1/2018


True Value agrees to sale
A special meeting of the True Value board of directors Friday morning announced the results of a proxy vote, and it wasn’t close. In management’s final tally, True Value members voted 85% to pass the deal, which will turn over 70% equity of True Value Company to ACON Investments. Current True Value members will keep 30% equity, as well as receive a $200 million-plus cash payout. For more, click here...
4/20/2018


BlueLinx completes acquisition of Cedar Creek
BlueLinx (NYSE:BXC), a leading distributor of building and industrial products in the United States, today announced that it has completed its previously announced acquisition of Cedar Creek, a leading building products wholesale distributor specializing in a wide variety of building products. The combination of BlueLinx and Cedar Creek creates one of the largest wholesale distribution companies in the building products industry, with combined revenue of approximately $3.2 billion in 2017. For more, click here...
4/17/2018


AC Summit invests in MJB Wood Group
AC Summit LLC, a holding company representing the interests of some members of the Coors family, has announced an investment in MJB Wood Group, Inc. in Irving, Texas, which is anticipated to close by the end of April. For more, click here...
4/17/2018


Koppers to acquire industrial division of Cox Industries
Koppers Holdings Inc. (NYSE: KOP), an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds, reported April 10 that Koppers Inc., a wholly-owned subsidiary of Koppers Holdings, signed an agreement to acquire, and expects to fully close at the end of business today, the acquisition of the Industrial division of Cox Industries, Inc. (Cox Industrial) for approximately $200 million in cash. For more, click here...
4/11/2018


Roseburg completes purchase of Pembroke MDF
Roseburg Forest Products announced Monday that it has completed the purchase from Pembroke MDF, Inc. of Pembroke’s medium density fiberboard (MDF) plant and molding production facilities located in northeastern Ontario, Canada. For more, click here...
4/10/2018


IFG completes acquisition of fingerjoint mill
Idaho Forest Group is pleased to announce the acquisition of the Merritt Brothers fingerjoint mill in Athol, Idaho, has been completed. According to Erol Deren, V.P. of Sales and Marketing, “This operation will assist IFG in creating more value from the resource while leading us into the value-added fingerjoint market.”
4/10/2018


Accenture officially acquires assets of Socco
Accenture Building Materials Ltd., Vancouver, B.C., acquired the assets of Socco Forest Products, Sumas, Wash., on March 28. Socco Forest Products will continue to operate as a custom dry kiln and remanufacturing facility servicing Canadian and American clients. This is Accenture Building Materials' first acquisition in the U.S., vertically integrating its supply chain. “This strategic acquisition exemplifies the strong bond that Canada and the U.S. have in forest products, which we believe will only get stronger given the interdependence of both nations on one another’s lumber and plywood production,” said Rick Sidhu, president of the ABM group. Accenture Building Materials Ltd. was founded in 2008 by Rick Sidhu and is a wholesaler of plywood, OSB, panel products, and lumber located in Vancouver, B.C. serving markets throughout North America.
4/4/2018


Universal to buy North American Container assets
Universal Forest Products, Inc. UFPI yesterday announced that one of its subsidiaries will acquire majority assets of Marietta, GA-based North American Container Corporation. Financial consideration of the buyout has not been disclosed. North American Container Corporation specializes in making structural packaging products - including wood/corrugated, laminated bulk boxes, wood replacement, recyclable and reusable packaging products. For more, click here...
3/29/2018


IFG acquires Merritt Bros. fingerjoint mill
Idaho Forest Group has agreed to acquire Merritt Bros. fingerjoint lumber mill in Athol, Idaho. According to Erol Deren, Idaho Forest Group V.P. of Sales & Marketing, “This acquisition includes our first venture into the value-added fingerjoint manufacturing process. This site compliments IFG’s six lumber manufacturing mills and supports our continued growth in the Intermountain West.” The transaction should be completed in April.
3/27/2018


Accenture acquires Socco Forest Products
Accenture Building Materials Ltd., Vancouver, B.C., has acquired the assets of Socco Forest Products, a Washington State-based custom dry kiln and remanufacturing operation. The acquisition is expected to be completed within the coming weeks, and the terms of the deal have not been disclosed.
3/22/2018


Boise Cascade acquires Nashville distributor
Boise Cascade Company is acquiring Lumberman’s Wholesale Distributors, a Nashville, Tenn.-based distributor of engineered wood products, commodity lumber items, and specialty building materials. The acquisition is expected to be complete in the coming weeks. Terms of the deal were not disclosed. For more, click here...
3/14/2018


BlueLinx agrees to purchase Cedar Creek
BlueLinx (NYSE:BXC), a leading distributor of building and industrial products in the United States, today announced that it has entered into a definitive agreement to acquire Cedar Creek, a leading building products wholesale distributor, a portfolio company of Charlesbank Capital Partners for a purchase price of $413 million on a debt-free, cash-free basis. The purchase price will consist of approximately $345 million in cash and approximately $68 million as the agreed value of the capital leases. The transaction has been unanimously approved by BlueLinx’s Board of Directors and is expected to be completed within 45 days, subject to customary closing conditions and regulatory approvals. The combination of BlueLinx and Cedar Creek will create a leading building products wholesale distributor with one of the largest product offerings in the building products industry, including over 50,000 branded and private-label SKUs, and a distribution footprint of 70 national locations servicing 40 states. For more, click here...
3/12/2018


Roseburg to acquire Pembroke MDF in Ontario, Canada
Oregon-based Roseburg Forest Products recently reached an agreement in principle with Pembroke MDF, Inc. to purchase Pembroke’s medium density fiberboard (MDF) and molding production facilities located in northeastern Ontario, Canada. Upon final due diligence and Board of Director approval, the parties expect the sale to close by April 9, 2018. The acquisition will be Roseburg's first international purchase and will continue the company's expansion throughout North America. Roseburg is currently building an engineered wood products plant in Chester, S.C., and recently acquired 158,000 acres of timberland in Virginia and North Carolina. For more, click here...
3/5/2018


Potlatch and Deltic Timber complete merger
PotlatchDeltic Corporation (NASDAQ:PCH) (“PotlatchDeltic”) announced February 20 the successful completion of the previously announced merger of Potlatch Corporation with Deltic Timber Corporation in an all-stock transaction, creating a leading domestic timberland owner and top-tier wood products manufacturer. All closing conditions for the deal have been met. The combined company has changed its name to PotlatchDeltic Corporation and its shares will trade on the Nasdaq Stock Market under the ticker PCH. For more, click here...
2/21/2018


Gillfor Distribution acquires Brown & Rutherford
Gillfor Distribution Inc., parent company to Owl Distribution Inc. and McIlveen Lumber Ltd., has announced the purchase of Brown & Rutherford Co. Ltd., a long-standing, well-regarded distribution company located in Winnipeg, Manitoba. Established in 1872, Brown & Rutherford has a prominent history founded on furniture manufacturing, later evolving into specialty lumber processing and lumber distribution which serves the North American markets today. The acquisition of Brown & Rutherford provides the Gillfor group a strategic distribution location in Manitoba to add to its five existing distribution centers and two reload facilities across Canada.
2/19/2018


Pope Resources announces acquisitions
Pope Resources (NASDAQ: POPE) reported that its private equity timber fund, ORM Timber Fund IV (REIT) Inc. ("Fund IV"), completed two acquisitions at the end of January 2018 totaling $113.9 million for 36,900 acres. These acquisitions include 20,000 acres located in southwest Oregon and 16,900 acres in western Washington. For more, click here...
2/6/2018


Weekes acquires Snavely Distribution
Tom Le Vere, president of St. Paul, Minn.-based Weekes Forest Products is pleased to announce the acquisition of Snavely Forest Products. Snavely, founded in 1902, operates distribution facilities in Pittsburgh, Pa., Westminster, Md., Greensboro, N.C., Dallas, Texas, and Denver, Colo. For more, click here...
2/2/2018


IKEA Group acquires Alabama timberland
IKEA Group (Ingka Holding B.V. and its controlled entities) acquired its first U.S. forest property, covering approximately 25,000 acres in Lowndes County, Alabama. The investment in forestry is part of a broader strategy to invest in the sustainable production of resources that IKEA Group consumes directly, such as energy, or indirectly through its products (wood raw material, recycled materials, etc.). IKEA Group also owns more than 250,000 acres of forest land in Europe, located in Romania and the Baltic States. For more, click here...
2/1/2018


Japanese firm acquires Alta
ITOCHU Corp., Tokyo, Japan, has reached an agreement to acquire all of the issued and outstanding membership interests of Alta Forest Products, Chehalis, Wash. Alta is the largest wood fence board manufacturer in North America, according to the press release. For more, click here...
1/17/2018


Millar Western acquires Spruceland Millworks
Millar Western Forest Products Ltd. has bought Spruceland Millworks Inc., including its manufacturing operations in Acheson, Alta., and its woodlands assets. Financial terms of the deal were not immediately available. Spruceland is expected to operate as a division of Millar Western under its existing management team and brand. For more, click here...
1/3/2018


Culpeper acquires Cox Industries' residential lumber division
Cox Industries, one of the country's largest producers of pressure-treated wood products, announced December 18 that it is selling its Residential Lumber Division assets to Culpeper Wood Preservers, a Virginia-based wood treater with a similar focus on residential lumber. Included in the sale are Cox manufacturing plants located in Orangeburg, South Carolina, Coleridge, North Carolina, Cove City, North Carolina and Branchville, South Carolina. For more, click here...
12/20/2017


Arauco acquires Masisa assets in Mexico
Arauco has expanded its global footprint today by strengthening its presence in the North American market with the purchase agreement for Masisa’s industrial assets in Mexico. The agreement involves an investment of $245 million for three industrial complexes located in Chihuahua, Durango and Zitácuaro. For more, click here...
12/20/2017


Western Forest Products to acquire Hampton operation
Western Forest Products Inc. (TSX: WEF) today announced that it has entered into an agreement with Hampton Lumber Mills-Washington, Inc. (“Hampton”) to acquire Hampton’s lumber processing and distribution centre in Arlington, Washington. The purchase price of the transaction is approximately $9 million and is anticipated to close in January 2018. For more, click here...
12/7/2017


B.C. forest industries merge
The B.C. Council of Forest Industries (COFI) and the Coast Forest Products Association (CFPA) have announced that they are merging into one organization. The forest industry is one of the largest employers in B.C., creating one in every 17 jobs, and contributing $12.9 billion in GDP to the province. For more, click here...
12/4/2017


IFG completes acquisition of Montana stud mill
Idaho Forest Group is pleased to announce the acquisition of Tricon Timber's stud mill in St. Regis, Montana, has been completed. The stud mill will reopen as Idaho Forest Group on Monday, December 4.
12/1/2017


Rayonier takes long road to close Tembec deal
Almost six months to the day. That was the time it took for Florida-based Rayonier Advanced Materials Inc. to acquire Montreal-based Tembec Inc., a US$900 million transaction that closed Monday. In that deal, Tembec shareholders received $4.75 a share payable in cash, shares or some combination, subject to overall caps of two-thirds cash and one-third stock. For more, click here...
11/21/2017


Atlas Engineered Products acquires truss manufacturer
Atlas Engineered Products Ltd. (the "Company" or "Atlas") (TSXVENTURE:AEP), a leading supplier of trusses and engineered wood products, is pleased to announce that it has entered into a letter of intent with Selkirk Truss (2010) Limited ("Selkirk") whereby the Company has agreed to acquire all of the issued and outstanding shares of Selkirk. For more, click here...
11/17/2017


IFG acquires Montana stud mill
Idaho Forest Group has agreed to acquire Tricon Timber's stud mill in St. Regis, Montana. The transaction is expected to close by December 1, 2017. According to Erol Deren, Idaho Forest Group V.P. of Sales & Marketing, "The St. Regis sawmill acquisition supports our continued growth and will be an excellent strategic addition to our existing operations in northern Idaho."
11/15/2017


Boise Cascade opening new DC in St. Louis
Boise Cascade Company (Boise Cascade) (NYSE: BCC) is pleased to announce the opening of a Building Materials Distribution Center to serve the St. Louis metro and surrounding areas. The new facility in Pontoon Beach, IL, will be open for business on November 15. For more, click here...
11/10/2017


CatchMark announces $43 million timberland acquisition
CatchMark Timber Trust, Inc. has acquired 14,923 acres of prime timberlands near the southeast coast of Georgia for $43.3 million, excluding closing costs. The timberlands in Long and McIntosh counties, the Coastal Georgia Acquisition, expand CatchMark's positioning in one of the most competitive wood baskets of the U.S. South, increasing its regional holdings by 36%. For more, click here...
11/2/2017


Twin Creeks Timber adds to timberland portfolio
Twin Creeks Timber LLC (“Twin Creeks”), a joint venture originally formed in 2015 in part by Silver Creek Capital Management (“Silver Creek”), today announced that it will add 121,000 acres of timberland to its portfolio. Twin Creeks will purchase 100,000 acres located in the southern U.S. from Weyerhaeuser Company (NYSE: WY) and receive a contribution of 21,000 acres located in the Pacific Northwest from Green Diamond Resource Company (“Green Diamond”). Through the addition of these timber assets, Twin Creeks will increase its southern portfolio to 360,000 acres and add the Pacific Northwest to its portfolio. The timberland transactions are expected to close by year-end. For more, click here...
11/1/2017


Potlatch nears deal to combine with Deltic Timber in stock swap
Lumber company Potlatch Corp. is nearing an all-stock deal to combine with Deltic Timber Corp., people familiar with the matter told the Wall Street Journal. Deltic shareholders are to receive 1.8 common shares of Potlatch for each share of Deltic that they own, the people said. Based on Friday’s closing prices, that would amount to a roughly 7% premium for Deltic shareholders. For more, click here...
10/23/2017


Roseburg to sell California timberlands
Roseburg Resources Co. announced an agreement to sell its California timberlands to a timberland investment vehicle managed by New Forests. The transaction includes 170,000 acres in northern California, largely in Siskiyou and Shasta counties. The company will retain ownership of its veneer facility located in Weed, Calif. For more, click here...
10/20/2017


PalletOne acquires Texas manufacturer
PalletOne, Inc., America's largest new pallet manufacturer, acquired North East Texas Pallet, a pallet manufacturer located in Clarksville, Texas. Organized in 2001 from predecessor companies, PalletOne now operates 17 locations in nine states and manufactures new pallets, repairs and recycles used pallets and produces a variety of other wood products. For more, click here...
10/6/2017


LBM Advantage acquisition of IBSA finalized
The merger of IBSA Inc. into LBM ADVANTAGE Inc., approved by the shareholders of each group earlier this year, has been completed as of October 1. The combined Advantage shareholder base bands together $6 billion of retail sales from 585 member companies operating 1,100 locations in 35 states. For more, click here...
10/3/2017


Roseburg completes acquisition of timberlands in Southeast
Roseburg Resources Co., Springfield, Ore., is pleased to announce the acquisition of approximately 158,000 acres of investment-grade timberland in the southeastern United States from Forest Investment Associates (FIA), a timberland investment management organization. The timberland is located around Roanoke Rapids, largely within the coastal region of North Carolina and southeastern Virginia, and has a strong history of professional management. The acquisition was completed Sept. 28, 2017. For more, click here...
9/29/2017


Binderholz Group acquires Klenk Holz AG
The Austrian binderholz Group, which has its headquarters in Fügen, has reached a binding agreement with The Carlyle Group to acquire the German sawmill and timber processing company Klenk Holz AG based in Oberrot. The purchase agreement was signed today, as announced by both companies. The transaction is expected to be concluded at the start of November 2017, a conclusion dependent on the agreement of the competition authorities. For more, click here...
9/28/2017


Wilsonart to acquire KML
Wilsonart Engineered Surfaces announced that it will acquire KML, the Tacoma-based manufacturer of decorative surfaces and panels. According to Vice President, Product Management, Ron Ubertini, this acquisition supports the continued growth of Wilsonart’s Coordinated Surfaces program with expanded capacity for the manufacturing of Thermally Fused Laminate (TFL) panels. For more, click here...
9/15/2017


West Fraser acquisition of Gilman completed
West Fraser Timber Co. Ltd. announced today that the acquisition of six sawmills and a fingerjoint mill from the Howard Gilman Foundation and other shareholders has been completed.
9/1/2017


FEA acquires Wood Markets
Forest Economic Advisors, Littleton, Mass., recently completed the purchase of International Wood Markets Group, Vancouver, B.C. With this acquisition, FEA welcomes Russell Taylor to its team of analysts and adds to its sources of global information, including: its proprietary global cost benchmarking database; the annual Global Softwood Log & Lumber Conference in Vancouver; the China Bulletin Monthly Newsletter; the Wood Markets Monthly International Reports, and several other publications and industry events. For more, click here...
8/23/2017


McCoy's buys a new approach to reload
McCoy’s Building Supply, the 86-unit Texas-based lumberyard company, announced today that it recently purchased the former C-R Reload Center, Inc. located in Burnet, Texas. Terms of the deal were not released. C-R Reload had provided reload and lumber storage services for McCoy’s and other Central Texas customers since 2002. Under McCoy’s ownership the facility will operate as MC Reload with a focus on reducing costs and adding distribution efficiencies to McCoy’s Building Supply stores and their customers throughout a large part of McCoy’s network of Texas stores. The facility will also provide reload and storage services to third-party users. For more, click here...
8/8/2017


Tembec shareholders approve takeover by Rayonier
Shareholders in Quebec forestry firm Tembec have overwhelmingly endorsed a friendly takeover offer by Rayonier Advanced Materials, a chemical products company based in Florida. About 95% of shareholders who voted were in favour of the deal, valued at C$1.1 billion — well above the two-thirds support required. The agreement, which is subject to regulatory approvals, is expected to close by the end of year. For more, click here...
7/28/2017


West Fraser enters agreement to purchase Gilman
West Fraser Timber Co. Ltd. today announced that it has entered into an agreement to acquire the operations of the Gilman Companies from the Howard Gilman Foundation and other shareholders for approximately US$430 million, subject to certain post-closing adjustments. The Gilman Companies are comprised of six sawmills and a fingerjoint mill in Florida and Georgia as well as an administrative office in St. Marys, Georgia. The transaction, which is also subject to U.S. regulatory approvals and customary conditions, is anticipated to close in the third quarter of 2017. For more, click here...
7/27/2017


Rayonier ups offer for Tembec, wins support of holdouts
Rayonier Advanced Materials Inc. has raised its takeover offer for Tembec Inc. to win the support of two of the forestry company's largest shareholders who had threatened to block the friendly deal. Rayonier and Tembec (TSX:TMB) said Oaktree Capital Management LP and Restructuring Capital Associates LP have now agreed to support the takeover. The deal requires support from a two-third majority vote at a shareholder meeting Thursday. For more, click here...
7/24/2017


Regulators asked to ensure fair vote on Tembec takeover
For a prospective buyer, Rayonier Advanced Materials, and for a prospective seller, Tembec, July 19 wasn’t a great day. Indeed it’s a continuation of a number of bad days as market participants weighed in on their planned US$807 million transaction, a deal that’s supposed to be put to Tembec’s shareholders at a meeting next week. As for bad news, Tembec’s two largest shareholders — Oaktree Capital Management and Restructuring Capital Associates, which between them own about 37% — have said they won’t support the transaction which requires backing from two-thirds of shareholders. For more, click here...
7/21/2017


Rayonier reaffirms commitment to acquire Tembec
Rayonier Advanced Materials Inc. (the “Company” or “Rayonier Advanced Materials”) (NYSE: RYAM) today reaffirmed its commitment to acquire Tembec Inc. (“Tembec”) (TSX: TMB) on the terms previously agreed with Tembec. The Company believes that the previously announced arrangement consideration of C$4.05 in cash or 0.2302 of a share of Rayonier Advanced Materials common stock per Tembec common share—which is subject to proration so that approximately 63% of the aggregate consideration is paid in cash and 37% is paid in Rayonier Advanced Materials stock—provides compelling value to Tembec shareholders. The Company does not intend to increase the consideration offered to Tembec shareholders. For more, click here...
7/18/2017


Weston Forest acquires Great Northern Lumber of Michigan
Steve Rhone, President, has announced that Weston Forest, Mississauga, Ont., has acquired the assets of Great Northern Lumber of Michigan, LLC, and will be operating the facility as Northern Industrial Woods Inc. The two companies have had a long-standing relationship, and Great Northern extends the reach of Weston's remanufacturing capabilities.
7/10/2017


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