Interfor Completed Earlier Announced Acquisition of EACOM Timber

SEATTLE (Scrap Monster): Vancouver, B.C.-headquartered Interfor Corporation announced that it has completed previously announced acquisition of EACOM Timber Corporation. It has acquired 100% stake in the company from an affiliate of Keslo & Company, effective 22^nd February, 2022.

The purchase price was C$490 million on a cash and debt-free basis, inclusive of C$120 million of net working capital. Also, Interfor assumed EACOM’s countervailing and anti-dumping duty deposits at closing, for consideration equivalent to 55% of the total deposits on an after-tax basis.

ALSO READ: Interfor Lumber Output Hit Fresh Peak in Q4'21

The acquisition is expected to boost Interfor’s total lumber production by almost 25%. It will enable the company to expand itself in the Eastern Canadian markets and throughout the Great Lakes regions. Moreover, the transaction is expected to deliver notable returns in the near-term and also over the long term.

The company press release also announced the appointment of Eric Larouche as Senior Vice President, Eastern Operations, who will be responsible for the company’s manufacturing, woodlands and forestry activities in the region. Previously EACOM’s Vice President of Human Resources, Larouche has over 20 years of experience in North American forest products industry.