Rayonier and Potlatch Deltic Announce $7.1 Billion Merger
Read about a New Forestry Giant!
Two major U.S. timberland owners announced plans to merge on October 14. The companies, Rayonier and Potlatch Deltic, are publicly traded companies. They will have a combined equity value of $7.1 billion and a timberland portfolio of 4.2 million acres located largely in the U.S. Southeast and Northwest.
The merger will position the new company as the second-largest U.S. private timberland owner. Weyerhaeuser Corporation is the largest. The combined companies will own seven forest products manufacturing facilities, including six sawmills, according to the announcement from Rayonier.
The announcement billed the transaction as a “merger of equals”.
The sawmills include one in Bemidji, Minnesota, and another in Gwinn, Michigan. Potlatch also owns a plywood mill in St. Maries, Idaho. Rayonier is headquartered in Northern Florida (near Jacksonville), and Potlatch is headquartered in Spokane, Washington.
Both companies’ boards of directors have approved the merger announcement. The merged companies will share a new name, which will be announced.