GreenFirst Forest Products has reached an agreement with Rayonier Advanced Materials to acquire six lumber mills in northern Ontario and Quebec. The deal, valued at US$214 million in cash and shares, also includes a newsprint mill in Kapuskasing, Ont. Rayonier acquired the mill assets of Tembec in 2017.
GreenFirst was known as Itasca Capital until the beginning of this year. The companies expect the transaction to be finalized with regulatory approval in the second half of the fiscal year.
