Weyerhaeuser Signed Agreement to Acquire Carolina Timberlands

SEATTLE (Scrap Monster): Weyerhaeuser Company announced that it has reached an agreement to acquire nearly 80,800 acres of high-quality timberlands in South and North Carolina from a fund managed by Campbell Global.

The company press release noted that the $265 million acquisition comprises of highly productive timberlands situated in strong coastal markets, which are strategically located to deliver immediate synergies with its existing timber and mill operations. Also, the acquisition is expected to deliver portfolio-leading cash flow and harvest tons per acre within its Southern Timberlands business.

The fee ownership with 89% planted pine acreage and strong site productivity will deliver attractive long-term timber returns. Weyerhaeuser expects average harvest of 6.5 tons per acre every year over the first ten years. Also, it expects average adjusted EBITDA of nearly $160 per acre every year from timber operations.

Devin Stockfish, president and chief executive officer noted that the transaction is an example of the company’s ongoing efforts to enhance its portfolio with high-quality, well-managed timberlands that generate solid returns for our shareholders. The newly acquired Carolina timberlands will provide strong cash flows to its Southern Timberlands business, he added.

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