VANCOUVER — International Forest Products Ltd. (Infor) has reached agreement to acquire the assets of Rayonier Inc.’s wood products business in Georgia for $80 million.
The transaction, subject to regulatory approval in the US, is scheduled to close in late February or early March.
The Rayonier business, headquartered in Baxley, Ga., consists of three sawmills located in Baxley, Swainsboro and Eatonton, Ga., with a combined annual capacity of 360 million board feet of southern pine dimension lumber.
Interfor has agreed to hire all of the current employees.
“The acquisition of Rayonier’s Wood Products Business is consistent with our strategy of adding capacity in attractive regional markets,” said Duncan Davies, Interfor’s president and CEO.
The acquisition will bring Interfor’s annual capacity to more than 2 billion board feet and represents the company’s first investment in the Southeast region of the US.