Interfor closes C$60M acquisition of BC interior cutting rights from Canfor
March 09, 2020
60.00 Million CAD
On March 9, 2020, Interfor Corporation closed its acquisition of certain cutting rights in the BC interior from Canfor Corporation for approximately C$60 million. One of the main purposes behind the acquisition was to solidify long-term log supply of raw materials to the Adams Lake sawmill, one of the most efficient and productive mills in the BC interior region.
This transaction required extensive review from the provincial government and collaboration with First Nations stakeholders. It represents the first major transfer of a Crown timber license since the BC Government enacted a new law requiring the Province’s consent to such transfers.
Interfor is one of the largest lumber producers in the world, with operations focused on the United States and Canada.
McCarthy Tetrault advised Interfor with a team led by Sven Milelli that included Michael Alty, Glynnis Morgan, and Erin O’Callaghan (Corporate/M&A), Lauren Muirhead (Real Property), Donovan Plomp (Labour & Employment), Justin Shoemaker (Tax) and Selina Lee-Andersen (ERA).