PRT Growing Services Ltd. ("PRT") announced the acquisition of International Forest Company ("IFCO") on April 5, 2023, enhancing its position as the leading provider of premium-quality container and bareroot seedlings in North America. The acquisition aimed to accelerate PRT's growth and create the only pan-North American forest seedling supplier, integrating IFCO's advanced expertise in forest seedling genetics, including controlled mass pollination and high-yield bareroot and container seedling stock.

As a combined entity, PRT and IFCO will manage 14 seed orchards and 28 nurseries, producing approximately 630 million seedlings annually. This expansion supports PRT’s strategic objectives, aiding customers in meeting reforestation goals and climate change mitigation through regulatory compliance.

Patrick Mobley, CEO of IFCO, will continue as an investor and special advisor to PRT, while the seasoned IFCO executive team will stay to drive growth in the next phase. Randy Fournier, CEO of PRT, emphasized the acquisition's role in expanding PRT’s capabilities to serve the increasing demands of their customers.

DLA Piper LLP (US) and McCarthy Tétrault LLP acted as legal advisors to PRT, while North Inlet Advisors, LLC and Coleman Talley LLP advised IFCO. The transaction value was not disclosed.