Canfor buys Anthony Forest Products in $93.5M deal
AFP in Arkansas operates six facilities producing lumber, engineered wood and wood chips.
VANCOUVER — Canfor Corp. has entered into an agreement to purchase Anthony Forest Products Co. in El Dorado, Ark. for US$93.5 million.
The deal includes approximately $15 million of working capital.
AFP operates six facilities producing lumber, engineered wood and wood chips with a combined capacity of 250 million board feet (mmbf) equivalent. A sawmill in Urbana, Ark. produces premium Southern pine lumber and has an operational capacity of 150 mmbf per year.
The company also owns laminating facilities in El Dorado, Ark. and Washington, Ga., which produce beams, columns and other glulam products with an annual combined capacity of 75 mmbf, and owns chip mills in Louisiana and Texas with a total annual capacity of 800,000 tons.
AFP also owns a 50% interest in Anthony EACOM Inc. a joint venture with EACOM Timber Corp., located in Sault Ste. Marie, Ont., which manufactures I- joists, with an annual capacity of 54 million lineal feet.
AFP’s trailing 12 month EBITDA through August 2015 was approximately $16 million, while EBITDA for its most recent fiscal year ended April 30, 2015 approximated $19 million.
Canfor is an integrated forest products company based in Vancouver.