Skip to main content
// //

Canfor Corp. has signed a deal to buy a 70-per-cent stake in Swedish sawmill company Vida Group for about $580-million.

Under the agreement, the current owners of Vida will retain a 30-per-cent interest and continue to manage the day-to-day business.

The privately held company has nine sawmills in southern Sweden with an annual production capacity of 1.1 billion board feet.

Story continues below advertisement

Vida also has nine value-added facilities that include premium packaging, modular housing, industrial products and energy.

Canfor says it expects to be able to finance the acquisition with cash and liquidity on hand, but will complete an extension and expansion of its existing operating and term-loan facilities.

The deal is expected to close in the first quarter of next year.

Related topics

Report an error
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies