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The industry’s leading price reporting agency, Random Lengths, Eugene, Or., has been acquired by Euromoney Institutional Investor, the European parent company of RISI, Inc., Boston, Ma., for $18.2 million.
Founded in 1944, Random Lengths provides unbiased and consistent price assessments and market reporting for the global wood products industry, with a core focus on the North American lumber and panels markets, publishing over 1,500 prices each week. Random Lengths will compliment and expand RISI’s existing wood products price reporting.
“Random Lengths is a leading source for prices in the lumber and panel markets, with a rich history of delivering trusted, unbiased insights,” said Daniel Klein, CEO of RISI. “We are excited for customers and the market to receive the most comprehensive offering of pricing data and information across the entire forest products supply chain, through the combination of RISI and Random Lengths, and as a core part of Euromoney’s cross-commodity PRA division.”
“Combining Random Lengths with RISI and Euromoney’s commodities price reporting organization is an exciting step,” said Random Lengths president Jon Anderson. “It enables Random Lengths’ customers and the market to continue relying on our price guides and market information, while enhancing Random Lengths’ business with RISI’s and Euromoney’s extensive resources and worldwide footprint.”
RISI’s global head of price reporting, Matt Graves, will relocate to Eugene, Oregon to lead the integration, working directly with Anderson and the Random Lengths team. Both organizations plan to continue their market reporting and publishing schedules as normal.