Weyerhaeuser Completes Sale of Princeton, B.C., Lumber Mill to Gorman Group

On September 2, 2025, Weyerhaeuser Company announced the completion of its sale of the lumber mill located in Princeton, British Columbia, to the family-owned Gorman Group. The deal, originally unveiled in May, involved a cash consideration of approximately US $60 million for the mill itself. Weyerhaeuser anticipates additional proceeds once the associated timber licenses transfer in the coming months—this segment of the transaction remains under regulatory review and is subject to customary closing conditions.

Weyerhaeuser confirmed it recorded a gain on the transaction, with an estimated tax liability of US $11 million stemming from the sale. The company, one of the world’s largest private owners of timberlands, manages approximately 10.4 million acres of U.S. forestland and holds long-term licensed timber operations in Canada. In 2024, it generated $7.1 billion in net sales and employed around 9,400 people.

The buyer, the Gorman Group, is a longstanding family-owned enterprise dating back to 1951. It operates multiple facilities in southern British Columbia—including two sawmills, a remanufacturing plant, a plywood plant, and a pole plant—as well as one remanufacturing facility in northern Washington. Across its operations, the company employs approximately 900 people, with a strategic focus on high-value lumber products tailored to home finishing and renovation markets. The acquisition further strengthens its regional footprint and product capabilities.

Why It Matters: The sale highlights the ongoing restructuring of the forestry sector in British Columbia, as large multinationals streamline operations while regional family-owned firms expand their influence. For Princeton, the transition to Gorman ownership could provide stability for mill workers and the local economy, while also reinforcing the importance of value-added forestry in B.C.’s future. The deal may also serve as a bellwether for how timber rights and mill assets are managed as the province grapples with resource sustainability and market shifts.