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Western Forest Products, Vancouver, B.C., has agreed to acquire the assets of Columbia Vista Corp., Vancouver, Wa., for $30.5 million, including working capital of $6.7 million.
Columbia Vista is a lumber manufacturer that focuses production on Douglas fir specialty products for the Japanese and U.S. markets. Columbia Vista operates a sawmill business in Washington State and has been in business for over 60 years. The operations employ approximately 90 employees and produced 60 million bd. ft. of lumber in 2017.
“Bringing Western and Columbia Vista together provides Western the opportunity to expand its Douglas fir specialty product offerings, particularly in Japan where our customers have been asking us to source Douglas fir to complement our B.C. hemlock,” said Don Demens, Western’s president and CEO. “We look forward to working with Bob Lewis, Columbia Vista’s owner, who will be remaining with Western following the closing of the transaction in a consulting capacity. Bob has strong relationships in the forestry sector in the region and will be invaluable as we look to grow our business.”
The transaction is expected to close in the first quarter of 2019.
