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19h ago

Weyerhaeuser to Sell Princeton Lumber Mill to Gorman Group for $120M CAD

The family-owned Gorman Group will acquire the manufacturing facility, timber licenses, and working capital, with the deal pending regulatory approval and closure expected in Q3 2025.

A pile of logs awaiting shipment.
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Overview

  • Weyerhaeuser has finalized an agreement to sell its Princeton, B.C., lumber mill to the Gorman Group for approximately $120 million CAD in cash.
  • The sale includes the manufacturing facility, associated timber licenses, and working capital, with customary regulatory reviews required before closure.
  • The transaction is expected to close in the third quarter of 2025, with forest tenure transfers to follow in the subsequent months.
  • Weyerhaeuser will continue to operate the mill independently until the deal is finalized, and its other Canadian operations remain unaffected.
  • B.C.'s Minister of Forests, Ravi Parmar, praised the sale, highlighting the importance of local, family-owned companies like Gorman Group to the region's forestry economy.