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International Forest Products To Buy Tolleson Ilim Lumber

International Forest Products Ltd. (IFP.A.TO) has agreed to buy Tolleson Ilim Lumber Co. based in Perry, Georgia from Ilim Timber Continental S.A. for a total consideration of $180 million.

The Tolleson operations include two sawmills in Perry and Preston, Georgia, with a combined annual lumber capacity of more than 400 million board feet and also a re-manufacturing facility in Perry, Georgia. In 2013, Tolleson generated adjusted EBITDA of $37 million on sales of $134 million.

The company expects the combination of both the companies to generate more than $5 million in annual synergies.

Interfor's consideration for the Tolleson business has been set at $129.9 million in cash and retained liabilities plus 3.68 million International Forest shares.

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