Roseburg Forest Products has entered into a binding agreement to sell 59,564 acres of timberland located in the South Umpqua region of Oregon to Chinook Forest Partners for an undisclosed amount. The sale is expected to be finalized in mid-July, subject to customary closing conditions.
Roseburg’s Senior Vice President of Resources Scott Folk said: “Consistent with the execution of our strategic planning goals and objectives, we are selling this targeted subset of timberlands in South Umpqua to better align our fee timberland portfolio and help ensure that we have the right balance of long-term core properties. With the recent announcement of our coastal Oregon timberland acquisition and retention of a supply agreement with Chinook Forest Partners associated with the South Umpqua sale, we remain very well positioned to ensure that our western manufacturing facilities will have a secure, sustainable supply of high quality logs and wood fiber for decades to come.”
Chinook Forest Partners Managing Partner Scott Marshall stated: “We are very pleased to have the opportunity to work with Roseburg on this transaction and believe that the supply agreement will be beneficial to both parties. This acquisition represents the execution of an investment strategy that centers upon the long-term, sustainable management of quality timberland in the Pacific Northwest. Chinook plans to continue Roseburg’s legacy of thoughtful timberland management, while also applying our forward-focused approach to natural capital opportunities.”