Weyerhaeuser Buys 69,000 Acres

Weyerhaeuser is purchasing 69,200 acres of high-quality Alabama timberlands from Soterra, a subsidiary of Greif, Inc., for $149 million. The acquisition comprises highly productive timberlands in southwest Alabama, 100 miles north of Mobile.

Weyerhaeuser points to the well-stocked timber inventory, including 76% plantation acreage with average age of 14 years, and an opportunity for increased productivity over time

“These timberlands are located in favorable markets and well-integrated with our existing supply chain, and we have strong relationships with a diverse and reliable set of customers in the area,” says Devin Stockfish, President and CEO.

Weyerhaeuser owns or manages nearly 600,000 acres and operates two mills and a nursery in Alabama.