Stella-Jones’ $250M acquisition
Stella-Jones Inc. announced that it has signed a definitive agreement to acquire the shares of McFarland Cascade Holdings, Inc., a provider of treated wood products based in the state of Washington.
Stella-Jones announced on November 2, 2012 that it had signed a non-binding letter of intent to acquire McFarland. The definitive agreement provides for a purchase price of approximately US$250.0 million, up from the US$230.0 million previously disclosed, as a result of an increase of approximately US$14.0 million in delivered working capital and other applicable purchase price adjustments.
Closing of the acquisition is expected to occur on or about November 30, 2012 and is subject to customary closing conditions.