West Fraser to sell two pulp mills in Western Canada to US-based Atlas for $165 million

Company

West Fraser Timber Co. Ltd.

Law Firm / Organization
McMillan LLP

Company

Atlas Holdings

Law Firm / Organization
Davies Ward Phillips & Vineberg LLP

West Fraser Timber Co. Ltd., headquartered in Vancouver, signed an agreement with US-based Atlas Holdings wherein West Fraser will sell two of its pulp mills in Western Canada to Atlas for a combined total of approximately $165 million (US$120 million). McMillan LLP is serving as legal counsel and TD Securities Inc. is acting as the exclusive financial advisor to West Fraser. Davies Ward Phillips & Vineberg LLP is serving as legal counsel to Atlas. The pulp mills included in the transaction are the Quesnel River Pulp mill in Quesnel, British Columbia, and the Slave Lake Pulp mill in Slave Lake, Alberta. Upon deal completion, the Quesnel River and Slave Lake pulp mills will be operated by Millar Western Forest Products, an Edmonton-based forest products firm that joined the global Atlas family of manufacturing and distribution businesses in 2017.

Merger & Acquisition
Other
$ 165,000,000
Closed
20 April 2024