Boise Cascade announced the completion of the previously announced acquisition of Coastal Plywood Company and its manufacturing operations in Havana, Fla., and Chapman, Ala. The deal, first announced in June, was valued at $512 million.
“We’re very pleased to welcome these new associates to the Boise Cascade team,” Nate Jorgensen, Boise Cascade CEO, said in a prepared statement. “We look forward to serving our customers with this expanded capacity.”
At the time of the deal’s announcement, Jorgensen said the acquisition expanded Boise Cascade’s veneer capacity and provided the company “the ability to optimize our existing engineered wood products asset base.” Jorgensen said the company plans to invest $50 million long-term into Boise Cascade’s Southeast operations over a three-year period to further engineered wood products production capacity.
Coastal Plywood Company is a provider of plywood, lumber, and treated wood products throughout the eastern United States. The transaction does not include Coastal’s parent company or timberlands assets.
Boise, Idaho-based Boise Cascade is a producer of engineered wood products and plywood and a wholesale distributor of building products.
