Canfor Corp. has closed a deal to buy Alabama-based Scotch & Gulf Lumber for $80 million plus working capital.
The acquisition will take place over a three-year period, with Canfor acquiring a 25 percent interest in the lumber producer during the first phase.
Scotch has headquarters in Mobile and has sawmills in Mobile, Fulton and Jackson, Alabama.
The company makes lumber products from Southern yellow pine and has a production capacity of 440 million board feet.
The deal was announced at the end of May. Canfor has operations in B.C., Alberta, Quebec, and North and South Carolina. It also owns a 50.2 percent interest in Canfor Pulp Products Inc.
From The Vancouver Sun: https://www.vancouversun.com/business/Canfor+closes+deal+acquire+Alabama+lumber+firm+million/8770680/story.html