Canfor Corporation has completed the purchase of 70% of the Vida Group of Sweden for a purchase price of SEK 3,990 million (approximately C$580 million), as the company said in the press release received by Lesprom Network.
“We are excited to welcome the Vida team to Canfor and we are looking forward to working with Vida to develop our business on a global scale,” said Don Kayne, President and CEO of Canfor. “We respect Vida’s team, the quality of the wood products they produce, their strong customer relationships, and most importantly the value of the Vida brand worldwide.”
Canfor is a leading integrated forest products company based in Vancouver, British Columbia ("BC") with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc.
