Weyerhaeuser Completes Acquisition of Timberlands in North and South Carolina

Rhea-AI Summary

Weyerhaeuser Company (NYSE: WY) has successfully acquired 80,800 acres of premium timberlands in North and South Carolina for approximately $265 million. This acquisition, which was announced in April 2022, increases Weyerhaeuser's managed timberlands in the Carolinas to over 900,000 acres. The company operates four mills and a tree nursery, employing over 700 people in the region. Weyerhaeuser, a major player in timberland ownership and wood products manufacturing, generated $10.2 billion in net sales in 2021 and continues to focus on sustainable management practices.

Positive

• Acquisition of 80,800 acres of timberlands enhances land portfolio.
• Current ownership now exceeds 900,000 acres in the Carolinas, indicating significant market presence.
• Strengthens operational capacity with four mills and additional facilities.

Negative

• None.

SEATTLE, May 19, 2022 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the completion of its acquisition of 80,800 acres of high-quality timberlands in North and South Carolina from a fund managed by Campbell Global for approximately $265 million. The transaction was announced in April 2022.

With this acquisition, Weyerhaeuser now owns or manages more than 900,000 acres of timberlands in the Carolinas, and the company also operates four mills, a distribution center and tree nursery, and hosts multiple mitigation banks and real estate development projects — employing more than 700 people between the two states.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in America. Our company is a real estate investment trust. In 2021, we generated $10.2 billion in net sales and employed approximately 9,200 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com. 

For more information contact:
Analysts – Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342

View original content to download multimedia:https://www.prnewswire.com/news-releases/weyerhaeuser-completes-acquisition-of-timberlands-in-north-and-south-carolina-301551633.html

SOURCE Weyerhaeuser Company

FAQ

What is the significance of Weyerhaeuser's acquisition of timberlands?

The acquisition expands Weyerhaeuser's timberland holdings in the Carolinas, increasing operational capacity and market presence.

How much did Weyerhaeuser pay for the timberlands in North and South Carolina?

Weyerhaeuser acquired the timberlands for approximately $265 million.

How many acres of timberlands does Weyerhaeuser own after this acquisition?

After the acquisition, Weyerhaeuser owns or manages over 900,000 acres of timberlands in the Carolinas.

What was Weyerhaeuser's net sales in 2021?

Weyerhaeuser generated $10.2 billion in net sales in 2021.

What is Weyerhaeuser's focus in managing its timberlands?

Weyerhaeuser is committed to sustainable management practices in compliance with internationally recognized forestry standards.