Weyerhaeuser has agreed to sell its Princeton, British Columbia lumber mill to Gorman Group for approximately $120 million CAD, strengthening local operations and community ties.
Target Information
Weyerhaeuser Company (NYSE: WY) has announced the sale of its lumber mill located in Princeton, British Columbia, to Gorman Group, a well-established family-owned wood products manufacturer based in West Kelowna, B.C. The transaction, valued at approximately $120 million CAD, encompasses the manufacturing facility, associated timber license assets in British Columbia, and working capital, subject to customary closing adjustments. The sale is expected to be finalized in the third quarter of 2025, following regulatory approvals.
The Gorman Group, which owns Gorman Bros. Lumber Ltd., has cultivated a productive relationship with Weyerhaeuser over many years, with Gorman Bros. currently being the largest customer of the Princeton mill. The Gorman Group has a strong presence in the region, having operated in Canada for over 75 years and owning multiple facilities in British Columbia and Washington state.
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Industry Overview in Canada
The timber and wood products industry in Canada is a critical part of the nation's economy, heavily influencing job creation and rural community sustainability. British Columbia, in particular, is known for its vast forest
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Disclosed details
Transaction Size: $89M
Revenue: $7,100M