ArborGen has entered into an agreement with subsidiaries of TexMark Timber Treasury, L.P. (Triple T), to lease the Triple T Nursery and seed orchards located in Jasper County and Tyler County, Texas. The 5-year lease agreement beginning April 1, 2019, includes an option for ArborGen to purchase the nursery and seed orchards at the end of the lease.
The agreement will allow ArborGen to increase its annual nursery production capacity and sales by approximately 30 million seedlings annually and immediately expand its seed orchard capacity, including advanced genetics seed in the important Texas region.
ArborGen has also entered into an exclusive multi-year agreement to supply Triple T all of its Texas seedling requirements.
Triple T is a joint venture between CatchMark Timber Trust, Inc. and a consortium of large institutional investors, which owns 1.1 million acres of East Texas timberlands.
ArborGen is the largest global seedling supplier and the leading provider of advanced genetics for the forest industry.
