Gorman Group Purchases Princeton, B.C. Sawmill
Weyerhaeuser has announced it has reached an agreement to sell its lumber mill in Princeton, British Columbia, to the Gorman Group, owners of Gorman Bros. Lumber Ltd., a family-owned wood products manufacturer headquartered in West Kelowna, B.C. The purchase price is approximately $120 million CAD in cash, which includes Weyerhaeuser’s manufacturing facility, all associated timber license assets in British Columbia and the value of working capital, which will be subject to customary purchase price adjustments at closing.
Weyerhaeuser and Gorman Group have a long-standing relationship in Canada. Gorman Bros. Lumber is currently the Princeton mill’s largest customer, and Gorman Group has operated in Canada for more than 75 years, with offices and facilities in B.C. and Washington state.
“Weyerhaeuser’s Princeton operation will be a natural fit with the Gorman Group,” says Nick Arkle, CEO, Gorman Group. “We’ve had a strong connection to the Princeton operation for many years, and we know firsthand the skill, commitment and quality that define its team. We’re delighted to welcome this mill and its people into the Gorman Group family, as this move will strengthen our company, support the sustainability of good jobs in our communities and help us continue developing the world-class wood products we’re known for. This really will be a case of the whole being stronger than the sum of its parts. We’re looking forward to working together with First Nations, governments, communities and all our employees to make this a B.C. success story.”
The transaction is subject to customary closing conditions, including regulatory review, with the sale of the mill expected to be completed in third quarter 2025, and the forest tenures to follow over the ensuing months. Weyerhaeuser expects to recognize a gain on the sale and incur a tax liability of approximately $15 million CAD. Weyerhaeuser’s other operations in Canada will not be affected by this transaction, and the company will continue to operate the Princeton mill independently of the Gorman Group until the transaction closes.
Latest News
Greenpeace: RFP’s Lawsuit Is Attempt To Silence Critics Of Company’s Practices
Greenpeace has filed court documents saying a lawsuit against it is an attempt to silence its criticism of a forestry company’s harvesting practices. “Greenpeace states that the Plaintiffs’ claims for defamation and interference with economic…
Despite Price Declines, Most North American Hardwood Mills Expect Better Business
North American hardwood sawmills were generally happy with the pace of business during the first half of August. While sales have slowed, as is normal in August, warehouses have not filled up. Mills in most…
Montana Wood Products Industry Officials Say Mills Still Below Capacity
Ads seeking forklift operators and mill laborers at the Missoula Job Service signal improving times for the Montana wood products industry, reflecting the findings of a recent report that showed a bump in wages and…
WorkSafeBC: B.C. Sawmills Still Failing Wood Dust Inspections
WorkSafeBC continued to issue stop work orders and fines this spring for sawmills that failed wood dust inspections more than two years after a pair of deadly mill explosions. But mills are starting to push…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.