Stella-Jones announced execution of definitive agreement for McFarland Cascade acquisition
Nov 22, 2012. Stella-Jones Inc. has signed a definitive agreement to acquire the shares of McFarland Cascade Holdings, Inc., a provider of treated wood products based in the state of Washington. Stella-Jones announced on November 2, 2012 that it had signed a non-binding letter of intent to acquire McFarland. The definitive agreement provides for a purchase price of approximately $250 million, up from the $230 million previously disclosed, as a result of an increase of approximately $14 million in delivered working capital and other applicable purchase price adjustments.
Nov 22, 2012. /Lesprom Network/. Stella-Jones Inc. has signed a definitive agreement to acquire the shares of McFarland Cascade Holdings, Inc., a provider of treated wood products based in the state of Washington. Stella-Jones announced on November 2, 2012 that it had signed a non-binding letter of intent to acquire McFarland. The definitive agreement provides for a purchase price of approximately $250 million, up from the $230 million previously disclosed, as a result of an increase of approximately $14 million in delivered working capital and other applicable purchase price adjustments, as the company said in the press release received by Lesprom Network.
Closing of the acquisition is expected to occur on or about November 30, 2012 and is subject to customary closing conditions.
Stella-Jones Inc. is a leading producer and marketer of pressure treated wood products.