Interfor invests C$56 million for a minority stake in GreenFirst
May 9, 2022 | 9:30 pm CDT
GreenFirst-Locations

BURNABY, British Columbia -- Interfor Corp. acquired 28,684,433 common shares of GreenFirst Forest Products Inc. from Rayonier A.M. Canada.

Interfor paid approximately C$56 million in cash and now owns approximately 16.2% of GreenFirst's issued and outstanding shares.

Interfor said its investment in GreenFirst is complementary to its expansion into Eastern Canada through the acquisition of EACOM Timber Corporation in February.

Toronto-based GreenFirst operates seven sawmills and one paper mill in Eastern Canada, and licences that provide long-term access to approximately 3.7 million cubic metres of fibre in the provinces of Ontario and Quebec. The sawmills have a stated annual production capacity of 905,000 million board feet.

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Rich Christianson | President/Owner/C-Level

Rich Christianson is the owner of Richson Media LLC, a Chicago-based communications firm focused on the industrial woodworking sector. Rich is the former long-time editorial director and associate publisher of Woodworking Network. During his nearly 35-year career, Rich has toured more than 250 woodworking operations throughout North America, Europe and Asia and has written extensively on woodworking technology, design and supply trends. He has also directed and promoted dozens of woodworking trade shows, conferences and seminars including the Cabinets & Closets Conference & Expo and the Woodworking Machinery & Supply Conference & Expo, Canada’s largest woodworking show.