Canfor buys Balfour/Beadles Lumber
Aug. 5, 2014, Vancouver - Canfor Corporation has purchased the operating assets of Balfour Lumber Company and Beadles Lumber Company. The transaction includes two sawmills located in Thomasville and Moultrie, Georgia in an area with a high quality and sustainable fibre supply. The Balfour and Beadles mills produce quality southern yellow pine lumber and the operations have a combined capacity of 210 million board feet after reflecting planned near term capital. The purchase is structured with 55% being acquired in January 2015 and the balance after a two-year period.
"The Balfour and Beadles sawmills are strong high performing assets in a supply area of sustainable and quality fibre." said Canfor Corporation President and CEO Don Kayne. "These mills and the management team in Georgia will contribute to the strength of Canfor."
The transaction is subject to standard closing conditions.