Western Forest Products acquiring Columbia Vista
Western Forest Products Inc., the Vancouver, British Columbia-based timberlands operator and lumber producer, is acquiring the assets of Columbia Vista Corporation in a $30.5 million deal.
Columbia Vista, located in Vancouver, Wash., is a lumber manufacturer that focuses production on Douglas Fir specialty products for the Japanese and U.S. markets. Columbia Vista operates a sawmill business in Washington State and has been in business for over 60 years. Operations include 90 employees and produced about 60 million board feet of lumber in 2017.
The purchase agreement also includes $6.7 million in working capital, Western Forest Products reported.
“This acquisition is consistent with our strategy of pursuing margin-focused business opportunities that complement our position in selected markets,” said Dom Demens, president and CEO of Western Forest Products.
Demens noted that bringing Western and Columbia Vista together will provide Western the opportunity to expand its Douglas Fir specialty product offerings, particularly in Japan. There, customers have been asking Western to source Douglas Fir to complement its B.C. Hemlock.
“The combination of Columbia Vista and Western will make us more meaningful to our selected customers and create a stronger company for all our employees,” Demens said, noting that the company will work with Columbia Vista’s owner Bob Lewis who will remain with the company as a consultant.
“Bob has strong relationships in the forestry sector in the region and will be invaluable as we look to grow our business,” Demens noted.
The transaction is expected to close in the first quarter of 2019.
Western has a lumber capacity of approximately 1.1 billion board feet from 7 sawmills.
Nearly a year ago, Western acquired Hampton Lumber’s processing and distribution facility in Arlington, Wash. in a $9 million deal.
Columbia Vista, located in Vancouver, Wash., is a lumber manufacturer that focuses production on Douglas Fir specialty products for the Japanese and U.S. markets. Columbia Vista operates a sawmill business in Washington State and has been in business for over 60 years. Operations include 90 employees and produced about 60 million board feet of lumber in 2017.
The purchase agreement also includes $6.7 million in working capital, Western Forest Products reported.
“This acquisition is consistent with our strategy of pursuing margin-focused business opportunities that complement our position in selected markets,” said Dom Demens, president and CEO of Western Forest Products.
Demens noted that bringing Western and Columbia Vista together will provide Western the opportunity to expand its Douglas Fir specialty product offerings, particularly in Japan. There, customers have been asking Western to source Douglas Fir to complement its B.C. Hemlock.
“The combination of Columbia Vista and Western will make us more meaningful to our selected customers and create a stronger company for all our employees,” Demens said, noting that the company will work with Columbia Vista’s owner Bob Lewis who will remain with the company as a consultant.
“Bob has strong relationships in the forestry sector in the region and will be invaluable as we look to grow our business,” Demens noted.
The transaction is expected to close in the first quarter of 2019.
Western has a lumber capacity of approximately 1.1 billion board feet from 7 sawmills.
Nearly a year ago, Western acquired Hampton Lumber’s processing and distribution facility in Arlington, Wash. in a $9 million deal.