Divestiture • Forest Products

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 for 420M USD

Acquisition Context
  • 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.

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M&A Deal Summary

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

Target Company

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 Overview 1

Buyer

Canfor

Vancouver, British Columbia, Canada

Category Company
Founded 1966
Sector Forest Products
Employees6,634
Revenue 5.3B CAD (2024)
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, British Columbia.


Deal Context for Buyer #
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 Profile 1

SELLER

Millar Western

Edmonton, Alberta, Canada

Category Company
Founded 1906
Sector Forest Products
DESCRIPTION

Millar Western is a forest products company that manufactures lumber, pulp, and wood chips for domestic and international markets. The Company operates sawmills and pulp facilities that process timber into construction-grade lumber and high-yield pulp used in papermaking. Millar Western was founded in 1906 and is headquartered in Edmonton, Alberta.


Deal Context for Seller #
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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-22 Quesnel River Pulp

Quesnel, British Columbia, Canada

Quesnel River Pulp is producer of wood products. Quesnel River Pulp is based in Quesnel, British Columbia.

Buy -