.jpg)
20 hours ago
4
Article content
VANCOUVER, British Columbia, June 09, 2026 (GLOBE NEWSWIRE) — Canfor Corporation (TSX: CFP) announced today that it has entered into an agreement with PinkWood Ltd. to purchase its I-joist business for $68.0 million, including working capital. Founded in 2009, PinkWood is the largest I-joist facility in Western Canada, producing engineered wood joists for residential, multi-family, and commercial construction. Located in Calgary, AB, PinkWood has 120 employees, with production capacity of 46 million linear feet.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
The purchase price represents a 5 times EBITDA multiple based on current production levels and earnings, including identified synergies. Following recent capital investment there is significant opportunity for growth and EBITDA expansion. Of the total consideration, $55.0 million is payable on closing, with the remaining $13.0 million payable over 5 years.
Article content
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
“PinkWood is a leading manufacturer of high-quality I-joists with a strong management team and stable returns,” said Susan Yurkovich, President and CEO of Canfor. “Canfor’s acquisition of PinkWood complements our operations in Western Canada by enhancing product diversification and supporting the continued expansion of our value-added manufacturing capabilities. We are pleased to welcome the PinkWood team and believe this acquisition will strengthen our existing asset base and create opportunities for growth and value creation.”
Article content
PinkWood will retain its name and operate as a wholly owned subsidiary of Canfor. Canfor anticipates financing this transaction with cash and available liquidity on hand. The transaction is expected to close in the third quarter, subject to customary closing conditions.
Article content
Article content
Forward-looking statements.
Article content
Certain statements in this press release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as “expects”, “anticipates”, “projects”, “intends”, “plans”, “will”, “believes”, “seeks”, “estimates”, “should”, “may”, “could”, and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on Management’s current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations, and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law.
English (US)