Weyerhaeuser Company has agreed to sell its lumber mill in Princeton, British Columbia, along with associated timber licenses and working capital, to the Gorman Group for approximately $120 million CAD in cash. The transaction is expected to close in the third quarter of 2025, pending regulatory review, according to Weyerhaeuser.
The Princeton mill has an annual production capacity of 234 million board feet. Gorman Group, already the site’s largest customer, will integrate the facility into its operations across British Columbia and Washington state. Weyerhaeuser will continue running the mill independently until the transaction is completed. The company anticipates recognizing a gain on the sale and expects a tax liability of about $15 million CAD. Other Weyerhaeuser operations in Canada will not be affected.
Gorman Group CEO Nick Arkle said the acquisition strengthens the company’s position in the region and supports local employment. Weyerhaeuser CEO Devin Stockfish emphasized selling to a local buyer with deep roots to ensure long-term continuity for the facility and its workforce.
