AUSTIN, TX – Temple-Inland Inc. completed its previously announced sale of 1.55 million acres of timberland for $2.38 billion to an investment entity affiliate with The Campbell Group LLC. The acreage included in the sales consists of 1.38 million acres of land owned in fee and leases covering an additional 175,000 acres.

The transaction includes a 20-year fiber supply agreement of pulpwood and a 12-year fiber supply agreement for saw timber; the terms of each are subject to extension. The agreement further stipulates that the timberlands will continue to be managed and third-party certified under the requirements of the Sustainable Forestry Initiative.