Key Highlights of the Transaction
• Scope of the Deal: The acquisition includes Weyerhaeuser’s Princeton manufacturing facility, all associated timber license assets across British Columbia, plus working capital—subject to standard adjustments at closing.
• Purchase Price: Estimated at C$120 million, with an expected tax liability of about C$15 million, while Weyerhaeuser anticipates recognizing a gain on the sale.
• Completion Timeline: The deal is set to close in third quarter of 2025, pending regulatory review, with forest tenure transfers to follow over the subsequent month.
Why It Matters
Seamless Transition to Local Ownership
Gorman Bros. Lumber is already the Princeton mill’s largest customer, operating for over 75 years in both BC and Washington State. This handoff to a trusted long-time partner ensures operational continuity and local stewardship.
Local Jobs and Community Support
Both Weyerhaeuser CEO Devin Stockfish and Gorman Group CEO Nick Arkle emphasized that selling to a local, family-run company was key. The transition is aimed at preserving jobs in Princeton and keeping the mill integrated with local communities and First Nations.
Strategic Growth for Gorman Group
This acquisition deepens Gorman’s presence in BC forestry. The company already runs multiple facilities—including two sawmills, a remanufacturing plant, a plywood plant, and a pole plant—and employs around 900 people in the region.
Voices from Leadership & Community
• Devin W. Stockfish, President & CEO of Weyerhaeuser, said:
“The community has always been incredibly welcoming… it was important to sell to a local buyer with deep roots in the region.”
• Nick Arkle, CEO of Gorman Group, added:
“We’re delighted to welcome this mill and its people into the Gorman Group family… we’re looking forward to working together with First Nations, governments, communities and all our employees to make this a B.C. success story.” 
• Forest Minister Ravi Parmar welcomed the transition:
“Family‑owned forest companies are the lifeblood of this industry… companies like Gorman Group believe in the future of forestry and know B.C. is a great place to invest.” 
Looking Ahead
• Continued Operations: Weyerhaeuser will manage mill operations independently until the sale closes; all other Canadian operations remain unaffected.
• Regulatory Path: The deal is subject to customary closing provisions, with regulatory reviews expected before the Q3 2025 completion date.
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