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Canfor completes majority acquisition of sawmiller VIDA Group of Sweden
February 28, 2019 By P&PC Staff
February 28, 2019 – Canfor Corporation has completed the previously announced purchase of 70 per cent of the VIDA Group of Sweden.
The purchase price was 3,990 million Swedish Krona (approximately CAD $580 million).
“We are excited to welcome the VIDA team to Canfor and we are looking forward to working with VIDA to develop our business on a global scale,” says Don Kayne, president and chief executive officer of Canfor. “We respect VIDA’s team, the quality of the wood products they produce, their strong customer relationships, and most importantly the value of the VIDA brand worldwide.”
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Canfor to acquire majority stake in Sweden’s VIDA Group
VIDA is Sweden’s largest privately owned sawmill company, operating nine sawmills in southern Sweden with an annual production capacity of 1.1 billion board feet. All of the sawmills produce spruce and pine products, and are strategically located in high-quality and sustainable fibre regions of Sweden. In addition, VIDA has nine value-added facilities that include premium packaging, modular housing, industrial products and energy.
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