Weyerhaeuser to Sell Princeton, B.C., Lumber Mill to Gorman Group

Core Points - Weyerhaeuser Company has agreed to sell its lumber mill in Princeton, British Columbia, to the Gorman Group for approximately $120 million CAD, which includes the manufacturing facility, timber licenses, and working capital [1][3] - The transaction is expected to be completed in the third quarter of 2025, subject to customary closing conditions and regulatory review [3][7] - Weyerhaeuser anticipates recognizing a gain from the sale and incurring a tax liability of about$15 million CAD [3] Company Overview - Weyerhaeuser is one of the largest private owners of timberlands, controlling approximately 10.4 million acres in the U.S. and additional public timberlands in Canada [4] - The company generated $7.1 billion in net sales in 2024 and employs around 9,400 people [4] - Weyerhaeuser operates as a real estate investment trust and is recognized for its commitment to sustainability in timberland management [4] Gorman Group Overview - The Gorman Group is a family-owned company with over 75 years of experience in the wood products industry, operating multiple facilities in Southern British Columbia and Northern Washington [5] - The company employs approximately 900 people and focuses on high-value lumber products for home finishing and renovation markets [5] - Gorman Bros. Lumber, a division of the Gorman Group, is the largest customer of the Princeton mill, indicating a strong existing relationship [2][5]