M&A Deal Summary

Canfor Acquires Millar Western Forest Products - Solid Wood Operations

On December 16, 2021, Canfor acquired forest products company Millar Western Forest Products - Solid Wood Operations from Millar Western Forest Products for 420M USD

Acquisition Highlights
  • This is Canfor’s 3rd transaction in the Forest Products sector.
  • This is Canfor’s largest (disclosed) transaction.
  • This is Canfor’s 2nd transaction in Canada.
  • This is Canfor’s 1st transaction in Alberta.

M&A Deal Summary
Date 2021-12-16
Target Millar Western Forest Products - Solid Wood Operations
Sector Forest Products
Buyer(s) Canfor
Sellers(s) Millar Western Forest Products
Deal Type Divestiture
Deal Value 420M USD

Target

Millar Western Forest Products - Solid Wood Operations

Edmonton, Alberta, Canada
Millar Western Forest Products' Solid Wood Operations assets consist of three well-capitalized operations including two sawmill complexes in Whitecourt and Fox Creek and the high-value, specialty Spruceland Millworks facility in Acheson that is dedicated to serving strategic markets and generates higher, more stable returns.

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Buyer(S) 1

Buyer

Canfor

Vancouver, British Columbia, Canada
Category Company
Founded 1966
Sector Forest Products
Employees7,580
Revenue 5.4B CAD (2023)
DESCRIPTION

Canfor is a integrated forest products company based in Vancouver, British Columbia (BC) with operations in BC, Alberta, North and South Carolina and Alabama. Canfor produces primarily softwood lumber, and also produces bleached chemi-thermo-mechanical pulp and specialized wood products. Canfor was founded in 1966 and is based in Vancouver, Canada.

DEAL STATS #
Overall 4 of 4
Sector (Forest Products) 3 of 3
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-14 Arbios Biotech

Australia

Arbios Biotech is a joint venture between technology pioneers Licella and integrated forest products company Canfor. Arbios Biotech uses cutting-edge technology to convert end-of-life wood and biomass into renewable biofuels and biochemicals. It collaboratively provides a circular economy solution for recovered resources, to enable the production of high-value and sustainable carbon-based products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-24 Canfor - Mackenzie Assets

Vancouver, British Columbia, Canada

Canfor's Mackenzie Assets consists of Mackenzie site, plant and equipment. Canfor's Mackenzie Assets is based in Vancouver, British Columbia.

Sell $70M

Seller(S) 1

SELLER

Millar Western Forest Products

Edmonton, Alberta, Canada
Category Company
Founded 1906
Sector Forest Products
DESCRIPTION

Millar Western is an Alberta-based forest products company that has been in business for more than a century. Millar Western is a producer of specialty high-yield pulp for global markets and lumber for North American markets.

DEAL STATS #
Overall 1 of 1
Sector (Forest Products) 1 of 1
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
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