The Hancock Timber Resource Group has completed the acquisition of 78,986 acres of timberlands in northwestern Wisconsin, as the company said in the press release received by Lesprom Network.
The 78,986 acres of timberlands, located in Bayfield, Burnett, Douglas and Washburn counties, were acquired from investment funds managed by The Lyme Timber Company, a private timberland investment management organization based in Hanover, New Hampshire.
"These assets are attractively stocked with primarily red pine, jack pine and hardwood forest types. They will supply a diverse customer base who manufactures utility poles, lumber, studs and pulp and paper products," Hancock Timber Resource Group President Brent Keefer said.
More than 90% of the timberlands are managed under working forest conservation easements purchased from Lyme Timber by the Wisconsin Department of Natural Resources. These easements were acquired as part of the Brule-St. Croix Forest Legacy Project that ensured the lands will be available for forest management and timber production to serve the wood products industry, and will remain open to the public for nature-based recreational activities.
The Hancock Timber Resource Group, founded in 1985, is a division of Hancock Natural Resource Group, Inc., a unit of Manulife Asset Management Private Markets. Based in Boston, it manages approximately 5.9 million acres of timberland in the United States, Brazil, Chile, Canada, New Zealand and Australia on behalf of investors worldwide.
