Interfor buys a piece of GreenFirst Forest Products

Interfor’s wholly-owned subsidiary, Interfor East Ltd., has acquired 28,684,433 common shares of GreenFirst Forest Products Inc. from Rayonier A.M. Canada G.P.

The move represents about 16.2% of GreenFirst’s issued and outstanding common shares. Interfor reported that it paid approximately 56 million Canadian dollars (US$43.57 million), or C$1.94 (US$1.51) per share.

The Burnaby, British Columbia-based lumber and forest products giant said the acquisition was made for investment purposes and builds upon Interfor’s recent expansion into Eastern Canada through the acquisition of EACOM Timber Corporation in February 2022. 

GreenFirst is a publicly-listed forest products company with seven sawmills and one paper mill in Eastern Canada.

According to Interfor, the sawmills have an annual production capacity of 905,000 million board feet and have a strong geographical fit with its own seven sawmills in Ontario and Quebec. 

Interfor maintains operations in Canada and the United States with an annual lumber production capacity of 4.9 billion board feet.