Weyerhaeuser announced Tuesday a deal to sell its 630,000 acres of timberland in Montana to a private timberland investment company for $145 million in cash.
Weyerhaeuser’s three manufacturing facilities in Montana won’t be affected by the sale, the company said.
“The sale of our Montana acreage is part of our ongoing effort to strategically optimize our timberland portfolio,” Devin Stockfish, Weyerhaeuser’s president and CEO, said in a news release. “The transaction includes a diverse mix of softwood species and an existing 110,000-acre conservation easement which preserves public access in perpetuity.”
The deal is expected to close in the second quarter of 2020. Weyerhaeuser said it expects minimal tax liability from the sale.