BURNABY, B.C. – Interfor Corp. has reached an agreement with an affiliate of Kelso & Co. to acquire 100% of the equity interests of Eacom Timber Corp.
Eacom is a leading lumber producer in eastern Canada, with operations across Ontario and Quebec, including:

• Seven sawmills with a combined annual spruce-pine-fir (“SPF”) lumber production capacity of 985 million board feet;
• An I-Joist plant with annual production capacity of 70 million linear feet;
• A value-added remanufacturing plant with annual production capacity of 60 million board feet;
• Rights to access approximately 3.6 million cubic meters per year of responsibly managed and internationally certified fibre supply; and
• An office in Montreal.

The purchase price is C$490 million, on a cash and debt free basis., which includes C$120 million of net working capital. 

Ian Fillinger, president and CEO, said, “This transformational growth secures a desirable SPF product mix to meet the growing demand of our customers, at a time when SPF fibre supply is under increasing pressure in other jurisdictions in North America and around the world.

"These are productive and well-managed mills, and we see meaningful opportunities to further enhance their performance by integrating them with our portfolio and applying our proven operating expertise. We are excited for the opportunities that the acquisition brings, and we look forward to welcoming the talented EACOM team into our company and partnering with them to operate and grow the business in the years ahead.”