Agreement with local buyer includes manufacturing facility and associated timber licenses in British Columbia
SEATTLE, May 21, 2025 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced it has reached an agreement to sell its lumber mill in Princeton, British Columbia, to the Gorman Group, owners of Gorman Bros. Lumber Ltd., a family-owned wood products manufacturer headquartered in West Kelowna, B.C. The purchase price is approximately $120 million CAD in cash, which includes Weyerhaeuser's manufacturing facility, all associated timber license assets in British Columbia and the value of working capital, which will be subject to customary purchase price adjustments at closing.
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