Aug 10, 2009. /Lesprom Network/. US timber products distributor North Pacific is to be acquired by a leading investment company, TTJ reported. The Oregon-based firm said it has signed a letter of intent to sell its stock, with closure expected to be in the fourth quarter of 2009. North Pacific, which has a US$1bn annual turnover, distributes building materials, timber, wood poles and other speciality products. “After a thorough review of our strategic alternatives, the company believes the proposed acquisition better positions North Pacific as a leading wholesale distributor within North America,” said Jay Ross, CEO and president of North Pacific. “The current market conditions present an exceptional opportunity to strengthen and grow our company, benefiting our employees, our customers and our suppliers.”