Itochu Corporation and Itochu International Inc. have reached an agreement with E.R. Probyn Ltd. and Welco Lumber Company to acquire all of the issued and outstanding membership interests of Alta Forest Products from Probyn and Welco.
Through this acquisition, Itochu aims to strengthen its fencing business in North America further, capitalizing on the expected synergies between Alta’s leading wood fencing supply position and MASTER-HALCO’s leading sales and distribution network.
Alta Forest Products is the largest wood fence board manufacturer in North America, producing 360 million board feet annually in its 4 manufacturing plants located in the Pacific Northwest of the United States. Alta has established a leading position in the market for Western Red Cedar fence boards, a premium product, through outstanding production efficiency driven by its specialized manufacturing process.
