Acadian Timber Corp. has closed on the acquisition of approximately 16,000 acres of commercial-quality timberlands in New Brunswick, Canada, at a price of $9.0 million, financed through its existing revolving credit facility.
The timberlands are close in proximity to Acadian’s existing operations and customer base. The acquisition will allow Acadian to expand its harvesting operations as well as other land use revenue opportunities.
Acadian Timber Corp. is one of the largest timberland owners in Eastern Canada and the Northeastern U.S. and has a total of approximately 2.4 million acres of land under management. Acadian owns and manages approximately 777,000 acres of freehold timberlands in New Brunswick, approximately 300,000 acres of freehold timberlands in Maine and provides timber services relating to approximately 1.3 million acres of Crown licensed timberlands in New Brunswick.
