Wood Business

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Canfor closes acquisition of Sweden’s VIDA Group


February 28, 2019
By Canfor

Canfor Corporation, further to the company’s news release dated Nov. 15, 2018, announces that it has completed the purchase of 70% of the VIDA Group of Sweden for a purchase price of 3,990 million Swedish Krona (approximately CAD$580 million).

“We are excited to welcome the VIDA team to Canfor and we are looking forward to working with VIDA to develop our business on a global scale,” said Don Kayne, president and Chief Executive Officer of Canfor. “We respect VIDA’s team, the quality of the wood products they produce, their strong customer relationships, and most importantly the value of the VIDA brand worldwide.”