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Weyerhaeuser Co. has entered into two separate agreements to purchase timberlands from and sell timberlands to funds managed by Hancock Natural Resource Group. Weyerhaeuser will acquire roughly 85,000 acres of timberlands in mid-coastal Oregon in one deal, and sell 149,000 acres of timberlands in southern Oregon in a second. The net cost of the deals is approximately $40 million in cash.
“These two agreements represent a unique opportunity to further enhance Weyerhaeuser’s Western timberlands portfolio with exceptional land that is contiguous with our existing ownership,” said Devin W. Stockfish, president and CEO. “Through these transactions, we are acquiring highly productive timberland with low operating costs and strong access to key domestic and export markets, and we expect them to deliver immediate and long-term value for our shareholders.”