B.C.’s Mirax Group to acquire Lyle Forest Products
January 25, 2023 By Jennifer Ellson
Mirax Group has announced that it has reached an agreement to acquire Lyle Forest Products located in Chilliwack, B.C.
Established in 1972, Lyle Forest Products is a value-added lumber facility dealing with Pacific Coast Hemlock and Western Red Cedar. For the past 50 years Lyle has been producing the highest quality of paneling, mouldings, S4S finishing boards, and engineered wood products.
This acquisition is one step closer for Mirax Group to become a more vertically integrated forest company in British Columbia. The addition of Lyle to our family of companies is consistent with our value-added business model to further enhance and diversify investment locally in B.C. and produce high quality finished products ready to be shipped globally.
The new division will operate as Lyle Specialty Forest Products Ltd., where Mirax Group’s sister-company Jazz Forest Products will be the sole distributor for Lyle products.
“We are excited to welcome Lyle’s employees to the Mirax Group. The addition of Lyle Forest Products is a perfect synergy for our organization to further add value to our growing product base, and keeping forestry and manufacturing alive here in our province,” Jas Binning, CEO of Mirax Group said.
The completion of the transaction is subject to customary conditions and is expected to close in the ending of February 2023.
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