PotlatchDeltic Corporation announced a merger with Loutre Land and Timber Company (“Loutre”). PotlatchDeltic issued 1.96 million shares of common stock and assumed debt of $6.6 million in exchange for Loutre’s 51,340 acres of high-quality, well-stocked timberlands in southern Arkansas and northern Louisiana.
“Loutre is a highly-attractive bolt-on acquisition that enhances our existing timberland footprint in southern Arkansas and northern Louisiana,” said Eric Cremers, president and chief executive officer of PotlatchDeltic. “We know the markets well and our integrated operating model will create additional value as we process the mature timber in our Waldo and Warren, Arkansas sawmills. Loutre also increases our stable cash flows, which is key to growing our regular dividend sustainably over time,” stated Mr. Cremers.
Loutre Land and Timber Company is a closely held S Corporation that owned and managed 51,340 acres of highly productive timberlands in southern Arkansas and northern Louisiana. The company was headquartered in El Dorado, Arkansas.
PotlatchDeltic is a leading Real Estate Investment Trust (REIT) that owns approximately 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.
