Weyerhaeuser Concluded Carolina Timberlands Acquisition

SEATTLE (Scrap Monster): Weyerhaeuser Company announced completion off acquisition of 80,800 acres of high-quality timberlands in North and South Carolina from a fund managed by Campbell Global for approximately $265 million. The transaction was initially announced in April this year.

The acquisition comprises of highly productive timberlands located in strong coastal markets, which are strategically located to deliver immediate synergies with the company’s existing timber and mill operations in the region. Furthermore, the acquisition is expected to deliver portfolio-leading cash flow and harvest tons per acre within its Southern Timberlands business.

ALSO READ: Weyerhaeuser Appointed David M. Vold as its New CFO

The transaction demonstrates the company’s ongoing efforts to enhance its portfolio with high-quality, well-managed timberlands.

With the completion of the acquisition, the timberlands managed or owned by the company in North and South Carolinas have now exceeded 9,000 acres. Between the two states, the company operates four mills, a distribution center and a tree nursery, in addition to hosting  multiple mitigation banks and real estate development projects. The North and South Carolina operations employ more than 700 people.

It must be noted that Weyerhaeuser owns or controls approximately 11 million acres of timberlands across the U.S.