US EditionWeyerhaeuser to Sell Princeton, B.C., Lumber Mill to Gorman Group
- Weyerhaeuser Company agreed on May 21, 2025, to sell its Princeton, British Columbia lumber mill and related timber licenses to the family-owned Gorman Group for approximately $120 million CAD in cash.
- The sale, which builds on the long-term collaboration between Weyerhaeuser and Gorman Group, is pending standard closing procedures and regulatory approvals, with completion anticipated in the third quarter of 2025.
- Weyerhaeuser will maintain full control of the Princeton mill until the sale is finalized and anticipates recording a gain from the transaction while facing a tax expense of roughly $15 million CAD, with no impact on its other business activities.
- Gorman Group CEO Nick Arkle expressed enthusiasm about integrating the mill and its workforce into the company, highlighting that the acquisition will bolster job security and advance the development of their renowned wood products.
- The transaction suggests long-term stability for the Princeton mill and surrounding community and reinforces B.C.'s attractiveness for forestry investment amid challenging market conditions.
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Weyerhaeuser to Sell Princeton, B.C., Lumber Mill to Gorman Group
Agreement with local buyer includes manufacturing facility and associated timber licenses in British Columbia
·Twin Falls, United States
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