M&A Deal Summary

GreenFirst Forest Products Acquires Rayonier Advanced Materials - Forest and Paper Products Assets

On April 12, 2021, GreenFirst Forest Products acquired forest products company Rayonier Advanced Materials - Forest and Paper Products Assets from Rayonier Advanced Materials for 214M USD

Acquisition Highlights
  • This is GreenFirst Forest Products’ 1st transaction in the Forest Products sector.
  • This is GreenFirst Forest Products’ largest (disclosed) transaction.
  • This is GreenFirst Forest Products’ 1st transaction in Canada.
  • This is GreenFirst Forest Products’ 1st transaction in Ontario.

M&A Deal Summary
Date 2021-04-12
Target Rayonier Advanced Materials - Forest and Paper Products Assets
Sector Forest Products
Buyer(s) GreenFirst Forest Products
Sellers(s) Rayonier Advanced Materials
Deal Type Divestiture
Deal Value 214M USD

Target

Rayonier Advanced Materials - Forest and Paper Products Assets

Chapleau, Ontario, Canada
Rayonier Advanced Materials' Forest and Paper Products Assets include six lumber mills which are located in Chapleau, Cochrane, Hearst, and Kapuskasing in Ontario and in Béarn and La Sarre in Québec as well as one newsprint mill located in Kapuskasing, Ontario. The assets have an annual production capacity of 755 MMFbm and are capable of producing a wide range of forest products used in residential and commercial construction, including SPF lumber, wood chips, and by-products. The newsprint mill has an annual production capacity of 205,000 MT/year. Collectively, the Purchased Assets rank as a top ten producer of lumber in Canada, based on recent publicly available industry rankings.

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Buyer(S) 1

Buyer

GreenFirst Forest Products

Vancouver, British Columbia, Canada
Category Company
Founded 1979
Sector Forest Products
Employees1,100
Revenue 396M CAD (2023)
DESCRIPTION

GreenFirst Forest Products is a forest-first business, focused on environmentally sustainable forest management and lumber production. The company believes that sustainable forest planting and harvesting, coupled with the long-term green advantage of lumber, provide GreenFirst with significant cyclical and secular advantages in building products. GreenFirst Forest Products is based in Vancouver, British Columbia.

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

Seller(S) 1

SELLER

Rayonier Advanced Materials

Jacksonville, Florida, United States
Category Company
Founded 1926
Sector Chemicals
Employees4,000
Revenue 1.6B USD (2023)
DESCRIPTION

Rayonier Advanced Materials is a provider of purity cellulose, a natural polymer commonly used in applications such as cell phones, computer screens, filters, textiles and pharmaceuticals. Rayonier Advanced Materials was founded in 1926 and is based in Jacksonville, Florida.

DEAL STATS #
Overall 2 of 2
Sector (Forest Products) 2 of 2
Type (Divestiture) 2 of 2
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Rayonier Advanced Materials - Matane Quebec Pulp Mill

Jacksonville, Florida, United States

Rayonier Advanced Materials, Inc. - Matane, Quebec Pulp Mill produces approximately 270,000 metric tons of high-yield pulp and sells the product globally for use in manufacturing paperboard, packaging, printing, and writing paper.

Sell $175M
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